Lyn Alden, known as macroeconomist, Bitcoin He explained his views that ETFs cannot directly affect the price.
Explaining his views on the YouTube channel Blue Collar Bitcoin, Alden thinks that BTC ETFs will probably not act as a significant catalyst for the bull market, but they can attract more inflows, which is an important factor that can send the price higher.
While Alden states that ETFs will not have a significant impact over the next two years, he thinks that new investments will strengthen the asset:
For example, I doubt that ETFs will drive the next bull market, but when that bull market happens, I think there is another ease of entry that could make the bull market do better than it would without these ETFs.
NEWS CONTINUES BELOWMoney ironically tends to chase price.
Alden also noted that the next Bitcoin price increase will likely be driven by similar catalysts that started past bull markets. According to the macro guru, ETFs will also come into play when BTC reaches its all-time high.
Increasing liquidity tends to be optimistic for the Bitcoin price, but it’s especially so when you’ve been in a bear market for a while and many of these loosely held assets are moving into stronger hands, which will only emerge with a 5x increase.
When you see all-time highs, people and their RIAs (registered investment advisors) say, ‘Why aren’t we in Bitcoin? ETFs came out months ago. What are we doing?
Then you can get some of the input and I think that can then contribute to that. This is certainly a constructive and positive variable, but they are not the main catalyst for me.