CNBC just announced that we can expect a massive surge for the price of Bitcoin soon. To find out more about how much can the king coin surge, check out more details below.
CNBC reveals Bitcoin price explosion
Jon Najarian, a CNBC contributor and options trader, believes that the approval of spot Bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) could be a catalyst for a sudden parabolic move of Bitcoin (BTC).
In a recent interview with trader Scott Melker, Najarian stated that BTC could soar by as much as 30% within two days if the SEC approves spot market ETFs.
However, he also warns that BTC may experience a dip and go down to the $37,000 range before the potential approval of spot market ETF.
“I think we’re going to get a spot Bitcoin ETF. When we do, Bitcoin will move 25% to 30% in two days. People are getting ahead of that.
I think we’ll go back down and test $37,000 again…
It seems like on the charts that’s where we had so much difficulty to the upside. And that’s where we’re likely to find support to the downside.”
Najarian is defending Bitcoin against critics such as Democratic US Senator Elizabeth Warren.
According to him, he still likes Bitcoin and cannot understand why anyone wouldn’t, except for Elizabeth Warren and individuals who dislike personal control over their own wealth.
He believes that Bitcoin is not only for billionaires and centi-millionaires, but for many people who need it, especially those who do not want a digital dollar to be forced upon them.
The digital dollar would enable others to have control over people’s wealth, which is not what people want. Currently, Bitcoin is trading at $43,072, which is up by 4.92% in the last 24 hours.
Stay tuned for more juicy crypto news because things are really heating up in the crypto space.
