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Spot Bitcoin ETF: Top Analyst Claims ‘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.

#Bitcoin to $200,000 or $500,000 in this bull cycle?
It's the institutional cycle.
This means that an influx of money, which the markets haven't seen before, is coming to the markets. The recent inflow in the ETF has shown interest.
What does that mean? Where's the top? … pic.twitter.com/hxTZMQvetl
— Michaël van de Poppe (@CryptoMichNL) February 10, 2024

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.
The post Spot Bitcoin ETF: Top Analyst Claims ‘Magnitude of Impact Not Priced In’ appeared first on CoinGape .

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