Analyst Says ‘Magnitude of Impact Not Priced In’

As the market hits resilience and recovery, top analyst, Michael van de Poppe has shared expert insight into key subjects and where BTC might be headed drawing on the impact of the spot Bitcoin ETF products now trading in the US market 

The Spot Bitcoin ETF Potential

According to the analyst, the market is currently in the institutional cycle, unlike in previous years that was dominated by retail traders as seen in 2017, and Venture Capital (VCs) in 2021.

Michael van de Poppe noted that the approval and launch of the spot Bitcoin ETF opened the doors for institutional investors to dive head-on into the market. One contrasting observation he noted was that the majority of institutions that will gain exposure to Bitcoin will not be doing so because they love the asset class.

He noted that their embrace will be because of its perceived strength to serve as a hedge against inflation, just as these investors are betting on gold. He gave a narrative using the third-world countries that are battling inflation and the de-dollarization risks the US economy is facing which begs the need for other alternatives.

The coming Bitcoin halving event was showcased by Michael van de Poppe as a major catalyst that will further convince institutions why Bitcoin might be an ideal bet in the long term. Unlike the US Dollar which can easily be printed, Bitcoin has a fixed supply which when matched with the growing demand might fuel a mega surge in the price of the asset.

As a major bullish thesis, Michael van de Poppe believes the magnitude of the impact of the spot Bitcoin ETF product is not priced in yet.

Bitcoin Price Projections

Over the past few months, Michael van de Poppe has not stopped gushing over his trust in the potential of BTC to soar in this market cycle. While he currently gave no actual forecast, he believes the price of the premier coin could soar in the range of $250,000 to $600,000.

Besides this, the analyst believes that the current market cycle may not end until 2026 or 2027 after which the spot Bitcoin ETF would have been properly priced in.

While he posits that there is a tendency for the return in this bull cycle to be lower than the previous cycles, other market experts like Samson Mow are equally optimistic, suggesting a likely jump in the price of the asset to $1,000,000 in the near future.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.