Bitcoin Expected to Breakout According to Crypto Analyst
One prominent crypto analyst is confident that Bitcoin (BTC) is on the verge of a breakout, despite a recent dip to $65,000. Crypto trader Michaël van de Poppe, who has a large following on social media, believes that Bitcoin’s correction may be coming to an end, with the potential for a return to its all-time high of around $74,000 in the next few weeks.
In a recent tweet to his 732,700 followers on X, van de Poppe stated, “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.
Van de Poppe also expressed optimism about NEAR Protocol (NEAR), suggesting that the token could see a significant 223% gain. He stated, “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.
Lastly, van de Poppe mentioned that Ethereum (ETH) could experience a surge against Bitcoin (ETH/BTC) if the US dollar index (DXY) starts trending downwards. He explained, “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.”
ETH/BTC is currently trading at 0.03731 BTC ($2,527), showing a 2.66% decrease in the last 24 hours.
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Featured Image: Shutterstock/Tithi Luadthong