Ethereum

Bitcoin

Impact

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Analyst and trader who works with cryptocurrency markets, Michael van de Poppe, has issued a social media post, suggesting that the recent approval of <a href="https://u.today/blackrocks-updated-bitcoin-btc-holdings-uncovered-hold-on-tight">Bitcoin exchange-traded funds</a> may propelling the Bitcoin price much higher than everybody expects.
He also shared key reasons why Ethereum is likely to reach new momentum within the upcoming few weeks.
<h2 id="spot-bitcoin-etf-impact-on-btc-per-poppe">Spot Bitcoin ETF impact on BTC, per Poppe</h2>
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, he adds, Bitcoin may soar much higher in the current cycle than everybody thinks it will.
<blockquote>
 The markets need to be more accurate with the impact of the ETF.There's some selling pressure in the short term, but in the long term, a massive amount of new money flows into the markets from new participants.As a result, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> might push higher this cycle than we think.— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1750503793329090599?ref_src=twsrc%5Etfw">January 25, 2024</a>
</blockquote> 
Famous crypto YouTuber Lark Davis seems to agree with van de Poppe. In a recent tweet, the cryptocurrency blogger called on his followers not to be afraid of the Bitcoin plunge taking place at the moment. He assumed that should anyone “look behind the scene, ” it would become clear that the top market players are taking advantage of this Bitcoin price dip – major financial institutions, nation-states and companies are taking this chance to accumulate Bitcoin cheaper than before.
<blockquote>
 The recent dip shouldn't scare you.Look behind the scenes and you'll know how the major players are capitalizing on this dip.Major institutions, national states, and businesses are buying.This is the dip that you wanted 3 weeks ago.— Lark Davis (@TheCryptoLark) <a href="https://twitter.com/TheCryptoLark/status/1750481161737187576?ref_src=twsrc%5Etfw">January 25, 2024</a>
</blockquote> 
Lark ended his tweet, stating: “This is the dip that you wanted 3 weeks ago.”
<h2 id="3-key-reasons-for-future-ethereum-momentum-per-michael-van-de-poppe">3 key reasons for future Ethereum momentum, per Michael van de Poppe</h2>
The analyst also published a tweet to express his view on the future Ethereum momentum. He believes that three main reasons now support the likelihood that momentum may return to the second-largest cryptocurrency within the next several weeks.
The first reason is that Bitcoin is now bottoming out, and this is usually a big trigger for altcoins to start on a new bull run. The second one is the hype about spot Ethereum ETFs soon getting stronger. And the final reason is that Ethereum is soon to <a href="https://u.today/ethereum-eth-developers-make-big-announcement-what-it-pertains-to">roll out new upgrades</a>, which are expected to bring down transactional costs on this blockchain by a whopping 90%.
<blockquote>
 The momentum towards <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is probably going to come in the next few weeks.Arguments:- <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bottoming out is a trigger for altcoins to make a new run.- Ethereum Spot ETF hype.- Ethereum launching new upgrades to reduce 90% of the costs. <a href="https://t.co/N8bDi52F8M">pic.twitter.com/N8bDi52F8M</a>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1750473590942871933?ref_src=twsrc%5Etfw">January 25, 2024</a>
</blockquote>

Bitcoin (BTC) ETF Major New Impact Predicted by Top Crypto Analyst

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