Crypto Analyst Predicts Bitcoin to Reach $250,000 by Year End

Crypto trader Michaël van de Poppe has expressed his bullish outlook on Bitcoin, predicting that the leading cryptocurrency by market capitalization is "very, very likely" to reach $250,000 or higher. In a recent video update, Van de Poppe shared his analysis with his 170,000 YouTube subscribers, highlighting historical patterns and the impact of exchange-traded fund (ETF) inflows on Bitcoin's price trajectory.

According to Van de Poppe, Bitcoin is currently consolidating around $100,000 due to the influx of new participants attracted by ETFs. He believes that the current price level underestimates the potential impact of the ongoing bull run. Van de Poppe draws parallels between the current cycle and previous ones, suggesting that Bitcoin could rally to $250,000 or even higher. He notes that without the influence of ETFs, Bitcoin might be trading around $50,000.

Van de Poppe's analysis is based on the M2 supply chart, which he believes indicates that Bitcoin will follow a similar trajectory to previous cycles. He predicts that Bitcoin could reach $160,000 to $180,000 in the next three months. Given that the second half of the year is typically the best period for cryptocurrencies, he anticipates that Bitcoin could reach $250,000 or higher by the end of the year.

Van de Poppe's predictions are based on historical patterns and the impact of ETF inflows, which have brought significant capital into the Bitcoin market. He believes that the current cycle is comparable to previous ones but at a different stage, with higher valuations driven by ETFs. His analysis suggests that Bitcoin's price could continue to rise as more capital flows into the market through ETFs.

Van de Poppe's bullish outlook on Bitcoin is based on his analysis of historical patterns and the impact of ETF inflows. He believes that Bitcoin is likely to reach $250,000 or higher in the coming months, driven by the influx of new participants and the potential for further capital inflows through ETFs. His predictions are based on his analysis of the M2 supply chart and historical patterns, which he believes indicate that Bitcoin will follow a similar trajectory to previous cycles.