Bitcoin Could Hit a Six-Figure Price by December, Says Crypto Analyst Michaël van de Poppe – Here’s His Outlook

A carefully watched crypto analyst says he is turning bullish on Bitcoin (BTC) because the flagship crypto asset hovers above $70,000.

In a brand new technique session, dealer Michaël van de Poppe explains tells his 734,900 followers on the social media platform

“It took lower than two to 4 weeks and we acquired near the all-time excessive for Bitcoin. What’s subsequent? I feel $80,000 in November, $90,000 [to] 100,000 in December.”

Bitcoin is buying and selling at $70,258 on the time of writing, about 4.7% beneath the all-time excessive of $73,800 reached within the first quarter of the yr.

In line with van de Poppe, that is crucial crypto asset by way of market capitalization consolidate earlier than hovering to new all-time highs.

“So long as we keep above $70,000, it is social gathering time.”

Van de Poppe additionally provides his prediction for high altcoin Ethereum (ETH). In line with the dealer, Ethereum may rise by greater than 13% in November after the assist stage of round $2,300.

“Ethereum took over liquidity and met resistance once more. I feel we are going to break this within the subsequent one to 2 weeks and see $3,000+ in November.”

Ethereum is buying and selling at $2,522 on the time of writing, down 5% over the previous 24 hours.

On the Ethereum/Bitcoin pair (ETH/BTC), the dealer say a bearish divergence on the pair’s day by day chart “may very well be legitimate.” A bearish divergence happens when an indicator, such because the Relative Power Index oscillator, information greater lows whereas the value witnesses decrease lows.

The analyst says that if ETH/BTC falls additional, it may depreciate by round 15% from the present worth to 0.031 BTC.

ETH/BTC is presently valued at 0.0359 BTC.

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