Crypto Analyst Michaël van de Poppe Predicts Bitcoin ‘Party’ is About to Start
Crypto trader Michaël van de Poppe is expressing bullish sentiment on Bitcoin (BTC) as the flagship crypto asset hovers below a key resistance level. In reference to a potential upside move, Van de Poppe tells his 662,700 Twitter followers that Bitcoin is “close to a party.”
Main breakdowns of the key points:
- Bitcoin is close to a potential upside move and could rally above the $30,000 level.
- A Bitcoin price below $29,700 indicates consolidation.
- Van de Poppe believes the authorization of spot Bitcoin and Ethereum ETFs in the US will act as a catalyst for the market.
- He doubts the likelihood of Bitcoin falling below $12,000 after BlackRock filed for a spot Bitcoin ETF and PayPal unveiled a stablecoin.
- Van de Poppe suggests the total cryptocurrency market capitalization could surge to above $1.5 trillion from the current $1.23 trillion.
Van de Poppe’s bullish outlook on Bitcoin is based on the potential for a rally above the key resistance level. He also highlights the potential impact of spot Bitcoin and Ethereum ETFs on the market, suggesting that it will move markets significantly. Additionally, he dismisses the possibility of Bitcoin falling below $12,000 given the recent developments with BlackRock and PayPal. Overall, Van de Poppe’s analysis indicates a positive outlook for Bitcoin and the wider cryptocurrency market.
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