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Famous economist warns about Bitcoin
Economist Alex Krüger said that the value of the asset could fall after the spot Bitcoin ETF is approved.
In a statement on X, Krüger said that the Securities and Exchange Commission's (SEC) approval of a spot Bitcoin ETF would be a "sell the news" event.
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Krüger claimed that the leading cryptocurrency will experience a rapid rise following the potential ETF approval but will fall after profit-taking.
While the economist notes that a strong inflow could help boost the value of the asset if the spot Bitcoin ETF is launched, he expects another price decline if it is rejected.
"(Investors) should be warned that if the ETF is rejected by chance, its prices could fall rapidly."
There are many different ideas about the scenario that will occur if ETF proposals are approved by the SEC. Coin Bureau's Guy Turner expects the asset to reach ATH even in a scenario where the ETF is not approved, given historical data.