© Alpha Footage Significant new impact of the Bitcoin (BTC) ETF, a leading crypto analyst predicts
U.Today – Analyst and trader who works with cryptocurrency markets, Michael van de Poppe, has published a social media post suggesting that the recent approval of exchange-traded funds could drive the Bitcoin price much higher than everyone expects.
He also highlighted the key reasons why new momentum is likely to be achieved in the coming weeks.
According to Poppe, recognize the impact of Bitcoin ETFs on BTC
Michael van de Poppe believes that markets should currently be cautious about the impact of the spot-based Bitcoin ETF, which has not yet taken off. The expert admits that “there is some selling pressure in the short term.”
In the long term, however, he assumes that an enormous amount of new cash flows from new participants will flow into the Bitcoin market. If this happens, he adds, Bitcoin could rise much more in the current cycle than everyone thinks.
Famous crypto YouTuber Lark Davis seems to agree with van de Poppe. In a recent tweet, the cryptocurrency blogger urged his followers not to be afraid of the Bitcoin crash that is currently taking place. He hypothesized that if anyone were to “look behind the scenes,” it would become clear that top market participants are taking advantage of this Bitcoin price drop – major financial institutions, nation states, and corporations are taking advantage of this opportunity to accumulate Bitcoin more cheaply than before.
Lark ended his tweet by saying, “This is the drop you wanted three weeks ago.”
Three main reasons for Ethereum's future momentum, according to Michael van de Poppe
The analyst also posted a tweet to express his opinion on Ethereum’s future momentum. He believes there are now three main reasons why the second-largest cryptocurrency is likely to regain momentum in the next few weeks.
The first reason is that Bitcoin has now bottomed, and this is usually a major trigger for altcoins to start a new bull run. The second reason is the hype that spot Ethereum ETFs are about to get stronger. And the final reason is that Ethereum will soon introduce new upgrades that are expected to reduce transaction costs on this blockchain by a whopping 90%.
This article was originally published on U.Today
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