CNBC’s Jon Najarian Believes Bitcoin Could Surge by 30% with Spot ETF Approval
Crypto trader and CNBC contributor Jon Najarian predicts that Bitcoin (BTC) could experience a sudden parabolic surge due to a specific catalyst. In an interview with trader Scott Melker, Najarian expressed his belief that the U.S. Securities and Exchange Commission (SEC) will approve spot Bitcoin exchange-traded funds (ETFs). He anticipates that such approval would cause the price of Bitcoin to skyrocket by as much as 30% within just two days.
However, Najarian also cautioned that BTC might temporarily dip to around $37,000 before any potential spot market ETF approval. He pointed out that this level has historically posed significant resistance on the charts and is likely to provide support in case of a downward movement.
Bitcoin’s Defense Against Critics
Najarian defended Bitcoin against critics such as Democratic US Senator Elizabeth Warren. He expressed his positive view of the cryptocurrency, stating that it offers individuals control over their own wealth. According to him, many people need Bitcoin, especially if they wish to resist the implementation of a digital dollar that would grant authorities control over their financial decisions.
As of now, Bitcoin is trading at $43,072, reflecting a 4.92% increase in the past 24 hours.
Hot Take: CNBC’s Jon Najarian Predicts 30% Surge for Bitcoin with Spot ETF Approval
CNBC contributor Jon Najarian believes that if the U.S. Securities and Exchange Commission (SEC) approves spot Bitcoin exchange-traded funds (ETFs), Bitcoin could experience an impressive surge of up to 30% within two days. However, he also expects a potential dip in price to around $37,000 before any approval takes place. Najarian defended Bitcoin against critics who oppose its widespread adoption, emphasizing the importance of individual control over wealth. With Bitcoin currently trading at $43,072, it remains to be seen how these predictions will unfold.
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