Amidst the tumultuous sea of financial speculation, a widely followed crypto analyst, Michaël van de Poppe, has emerged like a prophet from the depths, declaring that Bitcoin (BTC) is not just likely, but extremely likely to hit $250,000 or possibly even higher. 🚀
In a recent video update, the crypto trader, with a following of 170,000 YouTube subscribers, delves into the historical precedents that suggest the top crypto asset by market cap is poised for a meteoric rise. 🌠
Van de Poppe, with the sagacity of a seasoned market observer, notes that BTC is currently flashing signs of an impending rally, fueled by the influx of exchange-traded fund (ETF) investments. 📈
“We are currently consolidating around $100,000 only because we have a new group of participants being into the space due to the ETFs, which if that amount of money is pushing Bitcoin to $100,000, then we are I think underestimating the impact of the actual bull run to be happening and how high Bitcoin can go.”
The trader continues, with a hint of irony, that BTC is essentially retracing the steps of its past cycles, but on a grander scale. This time, he believes, it will rally to a price tag of $250,000, and if it weren’t for the ETFs, Bitcoin would be languishing around $50,000. 🤷♂️
“It’s remarkable and it’s comparable with the previous cycles but just at a different stage and we just need to move upwards with our expectations given that the ETF has been bringing Bitcoin towards higher valuations and I think if we didn’t have the ETF we would have been swimming around $50,000 and then it follows us with the M2 supply chart… which basically tells us that Bitcoin is going to follow that. And if Bitcoin is going to follow through with that, we are about to see Bitcoin move 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 is going to take place as well, it is very, very likely that Bitcoin is going to reach a number of $250,000 or potentially even higher.”
BTC ETFs, which launched in January 2024, have a total combined market cap of $138.5 billion at the time of writing, according to data from Coinglass. 📊
BTC is currently trading at $107,627, a 1.9% decrease over the last 24 hours, but the future, according to Van de Poppe, is nothing short of a crypto utopia. 🌈
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2025-07-05 16:01