Renowned economist Alex Krüger predicts several impending factors that could significantly boost Bitcoin (BTC) in the near future. Speaking to his 176,300 followers on X, Krüger notes BTC recently dipped below the critical $60,000 mark due to concerns over German government actions and Mt. Gox repayments unsettling the crypto market.

Krüger acknowledges ongoing sell pressures from Mt. Gox creditors and the German government, cautioning that these may keep the crypto market uneasy in the coming months. However, he outlines five catalysts he believes will spur new upward movements by year-end:

1. A smooth economic adjustment.
2. The onset of the Federal Reserve’s rate-cutting cycle.
3. A resurgence in the correlation between cryptocurrencies and broader macroeconomic trends as Germany and Mt. Gox progress.
4. Positive regulatory shifts following Trump’s potential re-election.
5. Initial inflows to FTX creditors.

Krüger’s shared image suggests FTX is set to reimburse creditors approximately $14-16 billion in cash, potentially injecting much-needed capital into Bitcoin and the broader crypto market if reinvested.

“FTX creditors have reason to rejoice,” Krüger asserts. “With refunds commencing in Q4, and with Mt. Gox creditors creating favorable entry points.”

Analyzing Bitcoin’s chart, Krüger predicts BTC will stabilize around the $50,000 range in the near term.

“In technical analysis terms, expect Bitcoin to hover around the $50,000s, consolidating in that zone. On the downside, support levels are at $52,000 and $48,000-$49,000 in case of significant sell-offs linked to Mt. Gox (a drop below the low $40,000s seems improbable in a soft landing scenario). Upside resistance is marked by the 200-day moving average at $58,500, suggesting a probable bounce back to this level with aggressive selling.”

At the time of writing, Bitcoin is trading at $55,282, reflecting a daily decrease of more than 4%.

Source: Alex Krüger/X

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