Widely followed economist Alex Krüger is bullish on one overlooked layer-one crypto project amid what he believes is the earlier stages of a digital assets bull run.
Krüger tells his 168,000 followers on the social media platform X that many more people are about to hear about Core (CORE), a blockchain that aims to leverage the advantages of Bitcoin’s (BTC) proof-of-work system (POW) plus the attributes of proof-of-stake (POS).
Says Krüger,
“There are two kinds of people in crypto.
Those who have heard about CORE.
And those who will.”
At time of writing, CORE is trading for $0.73, up 13% in the last 24 hours.
In a new interview on the 1000x podcast, Krüger says that Bitcoin and crypto’s current bull run is largely driven by flows into spot BTC exchange-traded funds (ETFs), which he says are only just beginning.
According to the economist, despite a recent price correction for Bitcoin and many altcoins, he thinks it makes sense to stay long at least until the BTC halving, when miners’ rewards are cut in half.
“The thing is: the ETF flows are so large, that in my opinion, they are just beginning. That sustains and enables this level of absolute insane degeneracy.
That’s what’s happening here. If you are concerned that this is actually a good place to basically hedge your spot holdings using futures or perps to unhedge once it flashes and hedging part of it – a small percentage… That being said, I think it makes a lot of sense to keep on riding into the halving, at least.
Things are crazy, but things can get crazier, and we make the most money in the part where it gets really, really f*cking crazy. So if we’re just getting rational to protect profits, yeah that works but you leave most of the money on the table.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: DALLE3
