A widely recognized cryptocurrency analyst has adopted a bullish stance on Bitcoin (BTC) as the leading digital currency remains above the $70,000 mark.
In a recent strategy session, trader Michaël van de Poppe shared his insights with his 734,900 followers on the social media platform X, predicting that Bitcoin could experience a price surge of 10% to 38% by year-end. He stated, “It has been just two to four weeks since we approached Bitcoin’s all-time high. What’s next? I anticipate seeing $80,000 in November and possibly $90,000 to $100,000 in December.”
As of now, Bitcoin is priced at $70,258, which is approximately 4.7% below its all-time high of $73,800, achieved in the first quarter of this year. According to van de Poppe, the leading cryptocurrency by market capitalization is currently consolidating before making a move toward new record highs. “As long as we maintain a position above $70,000, it’s celebration time,” he remarked.
Source: Michaël van de Poppe/X
Van de Poppe also provided his outlook for Ethereum (ETH). He suggests that Ethereum could see an increase of over 13% in November, particularly after the support level around $2,300 held firm. “Ethereum absorbed the liquidity and is now bouncing back to resistance. I believe we will break through it in the next week or two, reaching over $3,000 in November.”
Source: Michaël van de Poppe/X
Currently, Ethereum is trading at $2,522, reflecting a 5% decline over the past 24 hours. When discussing the Ethereum/Bitcoin trading pair (ETH/BTC), the trader noted that a bearish divergence on the daily chart “might be valid.” This divergence occurs when an indicator, such as the Relative Strength Index, posts higher lows while the price shows lower lows.
The analyst indicated that if the ETH/BTC pair continues to decline, it could fall by approximately 15% from its current value to around 0.031 BTC.
Source: Michaël van de Poppe/X
ETH/BTC is currently priced at 0.0359 BTC.
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