Crypto Analyst Bullish on Bitcoin, Predicts Price Surge to $250,000
A well-known crypto analyst is pleasantly surprised by the recent strength of Bitcoin (BTC) and believes that the cryptocurrency’s current bull cycle could push its price above $250,000.
The analyst, Michaël van de Poppe, shares his thoughts on Twitter, stating that he is impressed with Bitcoin’s current strength and its ability to reach $46,500. He suggests that the market may be looking for liquidity above the previous highs and potentially even surpassing $51,800.
Van de Poppe also highlights the significant inflows into Bitcoin from exchange-traded funds (ETFs), which he believes will act as a catalyst for the cryptocurrency to reach new heights. He mentions that ETF inflows have already exceeded $1.8 billion in just a few weeks.
The analyst predicts that Bitcoin could reach $55,000 before the upcoming halving event, which is expected in April. The halving event will reduce the issuance of new BTC to miners by half.
In addition to his bullish outlook on Bitcoin, Van de Poppe expects altcoins to follow suit and sees the overall altcoin market cap potentially peaking between $10-15 trillion. Currently, the altcoin market cap is below $9 trillion.
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