A Crypto Analyst Predicts Bitcoin Soaring After SEC Approves BTC ETFs
A well-known crypto analyst believes that Bitcoin (BTC) is poised for a significant surge following the approval of 11 BTC exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC).
The analyst, Michaël van de Poppe, shared on social media platform X that BTC could potentially reach as high as $600,000 in this market cycle. He also mentioned that dips at $36,000 to $40,000 are great buying opportunities.
Bitcoin Approaches Crucial Levels
Van de Poppe noted that BTC is approaching crucial levels, with the possibility of breaking or testing the $48,000 mark and potentially even reaching $50,000. However, he suggests that consolidation may be on the horizon after this significant event of the Bitcoin ETF approval.
Ethereum’s Strong Run and Altcoin Rally
In light of potential consolidation for BTC, Van de Poppe recommends traders consider a “rotation towards” Ethereum (ETH), the leading smart contract platform. He highlighted a bullish divergence on the ETH/BTC pair, indicating a strong run for Ethereum and other altcoins.
Bitcoin and Ethereum’s Current Prices
At the time of writing, BTC is valued at $46,255, while ETH is priced at $2,581.
Hot Take: Crypto Analyst’s Bullish Predictions for Bitcoin and Ethereum
Crypto trader Michaël van de Poppe predicts a bright future for both Bitcoin and Ethereum. With the approval of BTC ETFs by the SEC, he expects Bitcoin to potentially reach as high as $600,000 in this market cycle. Meanwhile, he suggests traders consider a “rotation towards” Ethereum, as it shows signs of a strong run alongside other altcoins. Van de Poppe’s predictions come at a time when both Bitcoin and Ethereum are approaching crucial levels, with the possibility of breaking key price points. Overall, he remains bullish on the future of these two leading cryptocurrencies.
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