CNBC analyst and famous trader Jon Najarian made a prediction that caused excitement in the cryptocurrency world and shared his evaluations about an important catalyst that could affect the future performance of Bitcoin (BTC). In a recent interview, Najarian sat down with popular crypto analyst Scott Melker to express his belief that BTC could undergo a sudden parabolic move if the U.S. Securities and Exchange Commission (SEC) approves spot Bitcoin exchange-traded funds (ETFs).
Najarian’s prediction is being followed carefully by many investors and cryptocurrency enthusiasts, as the approval of spot market ETFs could be an important step for the future of the cryptocurrency market. According to Najarian, if the SEC carries out such approval, it could mean that Bitcoin could increase its price by up to 30% in just two days.
However, Najarian also warned that Bitcoin could fall to the $37,000 range before this positive scenario. This warning can be considered as a reflection of possible fluctuations and uncertainties in the market. The crypto market is known for being in an environment where prices often undergo sudden and large changes, so it is important for investors to be prepared for such fluctuations.
“I think we will buy a spot Bitcoin ETF. When we do this, Bitcoin will move 25% to 30% in two days. People are getting ahead of this. I think we will come back and test $37,000 again… This seems to be where we have a lot of difficulty on the upside on the charts. “And that’s where we’ll probably find downside support.”
NEWS CONTINUES BELOW
Najarian also defended Bitcoin (BTC) against critics such as US Senator Elizabeth Warren, who is known for her anti-crypto stance.
“[Bitcoin]I still love . I don’t know why no one likes it except Elizabeth Warren and Elizabeth Warren and people who don’t want us to be sovereign over our own wealth.
NEWS CONTINUES BELOWIt’s not necessarily billionaires and centimillionaires who need Bitcoin, but a lot of people need it, especially if they want to impose the digital dollar on people and basically control what they can spend it on… That’s what the digital dollar is. “This gives them control of your wealth.”
Finally, the leading cryptocurrency Bitcoin (BTC) is trading at $42,630 at press time.
You can follow the current price movement here.