Crypto analyst Michaël van de Poppe predicts that Bitcoin (BTC) is poised for a breakout, despite a recent dip into the $65,000 range. Van de Poppe, who has a large following on social media, suggests that Bitcoin’s correction may be over and a return to its all-time high of about $74,000 could be just weeks away. He bases this prediction on the start of the macroeconomic season and PMI (Purchasing Managers’ Index) data. Bitcoin is currently trading at $67,802, showing a 2.5% increase in the last 24 hours.
Van de Poppe also expresses optimism for NEAR Protocol (NEAR), a competitor to Ethereum (ETH). He believes that NEAR may experience a significant gain, potentially reaching a 223% increase. The analyst points out that NEAR has retested its previous consolidation area and is gradually moving upward. He sets the next target in the rally to be between $10 and $15. NEAR is currently trading at $4.64, with a 2.1% increase in the last 24 hours.
Furthermore, Van de Poppe suggests that ETH may see a surge against Bitcoin (ETH/BTC) if the US dollar index (DXY) starts to trend down. He emphasizes that a reversal in the DXY and the Yields could lead to increased demand in the ETH ecosystem. Van de Poppe believes that if ETH breaks through 0.04 BTC, it will have a positive outlook. ETH/BTC is currently trading at 0.03731 BTC ($2,527), showing a 2.66% decrease in the last 24 hours.
In conclusion, Van de Poppe’s analysis indicates potential positive developments for Bitcoin, NEAR Protocol, and Ethereum. However, investors should conduct their own research and exercise caution when making high-risk investments in cryptocurrencies.
