Bitcoin Expected to Surge Beyond $250K, Says Analyst Michaël van de Poppe

Prominent cryptocurrency analyst Michaël van de Poppe has projected that Bitcoin (BTC) is highly probable to reach $250,000 or potentially higher. In a recent video update shared with his 170,000 YouTube subscribers, van de Poppe cited historical patterns indicating that the leading cryptocurrency is poised for a significant upward trajectory. The analyst attributes this anticipated rally to substantial inflows into Bitcoin exchange-traded funds (ETFs).

Van de Poppe elaborated, 'We're currently consolidating near $100,000 primarily due to new market participants entering through ETFs. If this level of investment can push Bitcoin to six figures, we're likely underestimating both the impending bull market's impact and BTC's potential peak.'

The trader drew parallels with previous market cycles, suggesting Bitcoin could mirror past performance patterns. He estimates BTC would currently trade around $50,000 without ETF influence. 'The market dynamics align with historical cycles, but at an advanced stage,' van de Poppe noted. 'Considering ETF-driven valuations, we should adjust our expectations upward.'

Based on monetary supply trends, van de Poppe predicts BTC could reach $160,000-$180,000 within three months. 'With the second half of the year typically being crypto's strongest period, it's highly probable Bitcoin could hit $250,000 or more in subsequent quarters,' he added.

Since their January 2024 launch, Bitcoin ETFs have amassed a combined market capitalization of $138.5 billion according to Coinglass data. At press time, BTC trades at $107,627, reflecting a 1.9% 24-hour decline.

Note: This analysis represents market commentary, not investment advice. Readers should conduct their own research before making financial decisions in volatile cryptocurrency markets.