In the last day, Bitcoin (BTC) has notched up minor gains to the tune of 0.7%, pushing its market price above the $42,000 mark. Investors in the world’s leading cryptocurrency are likely encouraged by this recent price gain, following the<a href="https://www.newsbtc.com/bitcoin-news/bitcoin-plummets-20-post-etf-approvals-whats-behind-the-crash/" target="_blank" rel="noopener "> 20% price decline</a> that trailed the<a href="https://www.newsbtc.com/breaking-news-ticker/breaking-sec-approves-all-11-spot-bitcoin-etfs-btc-price-holds-steady-at-46000/" target="_blank" rel="noopener "> highly anticipated approval of the Bitcoin spot ETFs</a> earlier in January.&nbsp; 
Amidst many speculations on BTC’s next movement, popular crypto analyst Michaël van de Poppe has released a prediction that indicates Bitcoin’s movement may be restricted for the coming months. Albeit, he projects a massive price surge in future years. 
<h2 id="strong-bitcoin-potential-consolidation-paves-the-way-for-altcoin-boom-strong">Bitcoin Potential Consolidation Paves The Way For Altcoin Boom</h2> 
In <a href="https://x.com/CryptoMichNL/status/1751289367342039425?s=20" target="_blank" rel="noopener nofollow">a post on X on January 27,</a> van de Poppe shared an intriguing forecast on Bitcoin’s price trajectory, as he predicted the digital asset to soon enter a consolidation state.&nbsp; According to the crypto analyst, Bitcoin is likely to trade between $37,000 – $48,000 for the next few months. If this prediction holds true, BTC could maintain its current upward trajectory and head for the $48,000 zone before experiencing any major pullback.&nbsp; 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Bitcoin</a> dominance peaking a few months prior to the Bitcoin halving. 
 History repeating itself. 
 It has happened in 2016, 2020 and seems likely to happen in 2024 as well. 
 Once <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Bitcoin</a> bottoms out, I expect altcoins to start outperforming. <a href="https://t.co/82VkuFr4Tq" rel="nofollow">pic.twitter.com/82VkuFr4Tq</a> 
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1748676750685704688?ref_src=twsrc%5Etfw" rel="nofollow">January 20, 2024</a>
</blockquote> 
Interestingly, van de Poppe also stated that a possible Bitcoin consolidation would lead to altcoins recording significant market gains. In a <a href="https://x.com/CryptoMichNL/status/1748676750685704688?s=20" target="_blank" rel="noopener nofollow">previous prediction,</a> the crypto enthusiast shared a similar belief explaining that BTC is gradually approaching its peak market dominance with the Bitcoin halving event just a few months away.&nbsp; 
Based on historical data from 2016 and 2020, when BTC attains its highest level of market dominance, the altcoins embark on a bullish run and even outperform the market leader. Michaël van de Poppe is projecting a similar occurrence in the coming months, accompanied by a BTC consolidation phase. 
<h2 id="strong-analyst-remains-optimistic-about-long-term-etf-impact-on-btc-strong">Analyst Remains Optimistic About Long-Term ETF Impact On BTC</h2> 
In the same post on X on January 27, de Poppe also commented on the potential effects of the Bitcoin spot ETF on the asset’s price. The analyst expressed much confidence in the newly introduced exchange-traded products&nbsp; (ETP) stating they had the potential to spur BTC to a market price of $300,000 to $500,000 in the coming years. 
His prediction comes as the Bitcoin spot ETF market is currently witnessing a decline in outflows following a rather perturbing start which saw over<a href="https://www.newsbtc.com/news/bitcoin/blackrocks-ibit-maintains-lead-in-bitcoetf-market-crosses-2-billion-in-inflows/" target="_blank" rel="noopener "> $4.786 billion exit the novel market</a> within its first 10 trading days.&nbsp; 
On January 26 (trading 11), the BTC spot ETF recorded a new minimum outflow of $255.1 million, according to <a href="https://x.com/BitMEXResearch/status/1751024039043219682?s=20" target="_blank" rel="noopener nofollow">data from BitMEX Research.</a> At the time of writing, total net flows in the ETF market stand at $759.4 million with Bitcoin trading at $42,088.&nbsp; If de Poppe’s forecast proves true, investors in both markets could record massive profits in the coming years. <img loading="lazy" decoding="async" class="aligncenter size-large" src="https://www.tradingview.com/x/SetDLQRf/" alt="Bitcoin" width="1479" height="893">

Analyst Predicts Bitcoin Consolidation, Eyes Long-Term Price Target Of $500,000

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