Trader weighs in on possible Bitcoin price drivers for remainder of 2023

United Telegraph’s Cryptocurrency Trading Secrets The podcast has released its 10th episode, which includes an interview with trader Michaël van de Poppe, who on Twitter @CryptoMichNL has attracted more than 650,000 viewers. In a taped interview on June 14, host Benjamin Pirus discussed several topics with van de Poppe, such as his thoughts on Bitcoin (BTC) price action for the remainder of 2023. His answer refers in part to US regulations.

“I think if the framework that is being created in the U.S. clarifies whether cryptocurrencies are securities or commodities, it will move the market,” van de Poppe said, adding:

“Because if you have that framework, it opens up to more institutional investors. I don’t believe the U.S. is going to be the biggest country. I think the rest of the world is starting to step in.”

Referring to the regulatory environment related to cryptocurrencies in other regions, van de Poppe highlighted the Market in Cryptoassets (MiCA) regulatory framework approved by the European Union at the end of May. “I think the U.S. is lagging behind, but the more clarity we get on that, that will be good for the market and activate more liquidity into the market,” he explained.

The trader also noted that macroeconomic conditions can have a significant impact on Bitcoin, such as interest rates and unemployment in the U.S. and other countries. “I think all of these factors are going to impact all markets including bitcoin, and that’s what we need to figure out for the rest of the year if there’s going to be a recession and if bitcoin is going to go down. Big winners or big losers,” van der Pole Pu said.

Vanderpope touched on several other topics, including his early interest in the stock market as a child.