Bitcoin (BTC) may experience a breakout soon, according to popular crypto analyst Michaël van de Poppe. Despite a dip into the $65,000 range on Wednesday, van de Poppe believes that Bitcoin’s correction is over and it could reach its all-time high of $74,000 within the next two to four weeks.
In a post on the social media platform 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.”
As of now, Bitcoin is trading at $67,802, showing a 2.5% increase in the last 24 hours.
Van de Poppe also expressed bullish sentiments about NEAR Protocol (NEAR), a competitor of Ethereum (ETH). He suggested that NEAR may soon experience a 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 believes that ETH may surge against Bitcoin (ETH/BTC) if the US dollar index (DXY) starts to trend down. He stated, “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.
Please note that the opinions expressed by Michaël van de Poppe are not investment advice, and investors should do their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where this article was sourced from, does not recommend the buying or selling of any cryptocurrencies or digital assets, and is not an investment advisor.
