In light of Bitcoin‘s resurgence, cryptocurrency expert Michael Van De Poppe has made an intriguing projection. He believes that Bitcoin could surpass the $300,000 mark during this current bull market.
Bitcoin Price Targetted At Unprecedented Heights This Cycle
For the past month, Bitcoins price has been stabilizing and failed to maintain its upward trend past the recent high of $73,000. But, there’s a possibility of significant growth imminent according to Michael Van De Poppe’s prediction.
The predicted outcome from his analysis aligns with the growing excitement among Bitcoin enthusiasts about the imminent halving event, which is due in under two weeks, leading to increased hope within the cryptocurrency market.
An expert’s assessment indicates that Bitcoin, the leading cryptocurrency by market value, continues to encounter substantial opposition at present. However, should Bitcoin successfully surmount this barrier, it may pave the way for fresh record highs within the next few months.
Based on BTC reaching the $70,000 mark prior to the halving, according to Poppe’s prediction, it’s reasonable to assume that the price could soar to extraordinary heights during this bull market, potentially peaking at around $300,000.
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Bitcoin still facing crucial resistance. If this breaks, then we will be seeing a continuation towards new all-time highs. Bitcoin at $70,000 pre-halving. Likely $300,000 this cycle.
Over the past weekend, Bitcoin’s price bounced back up to $70,000 according to Poppe. He then highlighted some positive signs currently emerging in the cryptocurrency market.
The analyst pointed out that the power of cryptocurrency markets has surprised us with its resilience, and drops in altcoin prices offer promising chances for investment. Furthermore, Bitcoin’s price trend suggests a possible new record high before the upcoming halving event, while the advantage is expected to swing towards altcoins soon.
Altcoin Season Set To Kick Off In Weeks
Poppe expresses great optimism about the potential rise of alternative cryptocurrencies, or altcoins. It’s worth mentioning that historically, the value of altcoins has often followed Bitcoin’s lead. Nevertheless, despite Bitcoin’s dominance not yet showing signs of decline before the upcoming halving event, Poppe believes that altcoins still hold significant potential for growth.
“He is confident that a fresh wave of new altcoins will emerge within the coming weeks based on his observation of previous trends. He mentioned examples such as Meme coins, the Solana (SOL) ecosystem, and Artificial Intelligence.”
According to the expert’s observation, Solana, AI projects, and meme coins have been driving the altcoin market recently. Therefore, during the upcoming altcoin season, Michael Van De Poppe believes that projects focusing on Real-World Asset (RWA) tokenization, Ethereum ecosystem, and Decentralized Physical Infrastructure Network (DePIN) will take the lead, potentially shaping the next wave of altcoins in this market cycle.
Currently, the combined value of all altcoins outside of Bitcoin and Ethereum amounted to $753.47 billion during my writing. This signifies a 2% rise in their total market capitalization over the previous 24-hour period.
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2024-04-08 16:17