Crypto Analyst Michaël van de Poppe Predicts Bitcoin (BTC) Will Reclaim All-Time High of $74K in Weeks
- Barbara StreisandOriginal
- 2024-10-25 07:26:21554browse
Crypto trader Michaël van de Poppe tells his 732,700 followers on the social media platform X that Bitcoin's correction may be over and a return to the all-time high of about $74,000 may be just weeks away.
Crypto analyst Michaël van de Poppe believes that Bitcoin (BTC) is preparing for a breakout despite experiencing a slight dip into the $65,000 range on Wednesday.
With over 732,700 followers on the social media platform X, van de Poppe shared his analysis, suggesting that Bitcoin’s correction might be coming to an end and a return to the all-time high of around $74,000 could be just a couple of weeks away.
“There we go. The dip has happened on Bitcoin. I think that the correction is over as today’s macroeconomic season is kicking off with PMI (Purchasing Managers’ Index) data. Expecting to see the ATH test in the next two-four weeks.”
At the time of writing, Bitcoin is trading at $67,802, showing a 2.5% increase in the last 24 hours.
The crypto analyst also expressed his bullish sentiment towards NEAR Protocol (NEAR), a competitor to Ethereum (ETH), suggesting that the token could be set for a 223% rally.
“The markets are gearing up for the next big leg upwards. NEAR is a perfect example. It retested the previous consolidation area and is slowly crawling upwards. The next target in the rally is $10-$15.”
NEAR is currently trading at $4.64, showing a 2.1% increase in the last 24 hours.
Finally, van de Poppe analyzed ETH, suggesting that it could potentially rally against BTC (ETH/BTC) if the US dollar index (DXY) begins to trend down.
“It’s ultimately all a matter of reversal on the DXY and the Yields. If that happens, then I’m sure we’ll see a quick demand in the ETH ecosystem. Break through 0.04 BTC and we’ll be good to go.”
At the time of writing, ETH/BTC is trading at 0.03731 BTC ($2,527), showing a 2.66% decrease in the last 24 hours.
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