© Reuters. Bitcoin (BTC) ETF Major New Impact Predicted by Top Crypto Analyst
According to cryptocurrency analyst and trader Michael van de Poppe, the recent approval of exchange-traded funds (ETFs) could have a major impact on the price of Bitcoin (BTC). In a social media post, van de Poppe shared his insights on why BTC could see a surge in the upcoming weeks.
Potential Impact of Spot Bitcoin ETF on BTC
Van de Poppe cautions that the market should be wary of the potential impact of the spot-based Bitcoin ETF, which has yet to fully take effect. He notes that there may be some selling pressure in the short term, but he believes that in the long term, the influx of new capital from fresh participants could drive BTC to reach new heights in the current cycle.
His sentiments are echoed by famous crypto YouTuber Lark Davis, who urges his followers not to be discouraged by the current dip in Bitcoin’s price. Davis suggests that major players in the market, such as financial institutions and nation-states, are taking advantage of the dip to accumulate BTC at a lower price.
3 Reasons for Future Ethereum Momentum
In addition to his thoughts on BTC, van de Poppe also shared his views on the potential momentum of Ethereum (ETH). He believes that there are three key factors that could contribute to a surge in ETH in the next few weeks.
- Bitcoin is nearing its bottom, which often triggers a bull run for altcoins.
- The hype around spot Ethereum ETFs is growing.
- Ethereum is expected to roll out new upgrades that could significantly reduce transaction costs on its blockchain.
This article was originally published on U.Today.
