© Reuters. Bitcoin (BTC) ETF Major New Impact Predicted by Top Crypto Analyst
U.Today – Analyst and trader who works with cryptocurrency markets, Michael van de Poppe, has issued a social media post, suggesting that the recent approval of exchange-traded funds may propelling the Bitcoin price much higher than everybody expects.
He also shared key reasons why is likely to reach new momentum within the upcoming few weeks.
Spot Bitcoin ETF impact on BTC, per Poppe
Michael van de Poppe believes that the markets at the moment should be cautious regarding the impact of the spot-based Bitcoin ETF, which has not come into its own yet. The expert admits that there is “some selling pressure in the short term.”
However, as for the long term, he reckons that then a tremendous amount of new cash flows will start going into the Bitcoin market from fresh participants. When this happens,…
