A generally followed crypto analyst says Bitcoin (BTC) will extremely probably reach $ 250,000 or may be even higher.
In a new video update, Crypto trader Michaël van de Poppe tells His 170,000 YouTube subscribers who, based on the historical precedent, are the best crypto activa of market capitalization ready to shoot up.
According to Van de Poppe, BTC is blinking signs of an upcoming rally fed by the inflow of listed fund (ETF).
“We currently only consolidate around $ 100,000 because we have a new group of participants in space because of the ETFs, who pushes Bitcoin to $ 100,000 as that amount, then I think I have to underestimate the impact of the actual bullrun and how high bitcoin can go.”
The trader also says that BTC essentially repeats the same pattern that it did during the last few cycles, who would see this time collect to a price tag of $ 250,000, and notes that he believes that the crypto king would currently be $ 50,000 if it was not for the ETFs.
“It is remarkable and it is similar to the previous cycles, but only at a different stage and we just have to go up with our expectations, since the ETF Bitcoin brought to higher ratings and I think if we didn’t have the ETF, we would have swam around $ 50,000 and then it will follow us with the M2 Supply Chart …
And if Bitcoin is going to follow that, we are about to see Bitcoin moving to $ 160,000- $ 180,000 in the next three months. And what we also know is that the second half of the year is usually the best period for crypto, if the next quarter after that will also take place, it is very likely that Bitcoin will reach a number of $ 250,000 or possibly even higher. “
BTC ETFs launched In January 2024 and have a total combined market capitalization of $ 138.5 billion at the time of writing, according to data from Coinglass.
BTC acts for $ 107,627 at the time of writing, a fall of 1.9% during the last 24 hours.
https://www.youtube.com/watch?v=XY5AYXRBXIE
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