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

Cointelegraph’s Crypto Trading Secrets podcast has published its 10th episode, featuring an interview with trader Michaël van de Poppe, who caters to an audience of more than 650,000 on Twitter under the handle @CryptoMichNL. During the June 14 interview recording, host Benjamin Pirus discussed several topics with van de Poppe, such as his opinions on what might drive Bitcoin’s (BTC) price over the rest of 2023. His answer, in part, references United States regulations.

“I think if there’s clarity on the framework that’s being established in the U.S. in terms of whether or not cryptos are going to be securities or commodities — that’s going to push markets,” van de Poppe said, adding:

“Because if you have that framework, it opens up for more institutional investors. I don’t believe that the U.S. is going to be the big one. I think the other parts of the world are already stepping in.”

In mentioning other regions’ crypto-related regulatory environments, van de Poppe highlighted the Markets in Crypto-Assets (MiCA) regulatory framework from the European Union, which was approved in late May. “I think the U.S. is behind, but the more we get clarity on that, it’s going to be beneficial for the markets and activate more liquidity into the markets,” he explained.

The trader also noted the macroeconomic conditions potentially affecting Bitcoin significantly, such as the situation around interest rates and unemployment in the United States and other countries. “I think all those factors are going to move all the markets, including Bitcoin, and that’s what we need to find out in the rest of the year whether or not there is going to be a recession and whether or not Bitcoin is going to be the big winner or the big loser,” van de Poppe said. 

Van de Poppe also spoke about several other topics, including his early interest in the stock market as a kid.