Crypto strategist Michaël van de Poppe is bullish on Bitcoin's future, forecasting that the cryptocurrency could set new all-time highs if it breaks a significant resistance level.
According to Van de Poppe, a 2.25% increase from Bitcoin’s current price could propel it to new ATHs by early September.
It feels great to have the market breaking out.#Bitcoin bouncing upwards, onto the final resistance at $62K.
If that breaks, then it’s close to getting a new ATH in September.
Expecting a lot of positive inflow in the data on the ETF tomorrow. pic.twitter.com/Etr1LJIA1b
— Michaël van de Poppe (@CryptoMichNL) August 21, 2024
He notes that Bitcoin is currently trading around $60,636, and overcoming the $62,000 mark could set the stage for a record-breaking surge.
This optimistic view is bolstered by expectations of positive data inflows from Bitcoin-related exchange-traded funds (ETFs) expected later in August.
In addition to his Bitcoin outlook, Van de Poppe is also eyeing Ethereum’s potential. He emphasizes the importance of Ethereum breaking the $2,700 resistance level, which could lead to a significant upward movement in the altcoin market.
#Ethereum looks excellent, but it needs to continue climbing upwards.
Crucial level to break: $2,700.
There is nothing between $2,700 and $3,100, likely triggering a big upward run on #Altcoins. pic.twitter.com/oZ99vN8soU
— Michaël van de Poppe (@CryptoMichNL) August 22, 2024
Should Ethereum maintain its position above $2,500, he predicts it could reach $3,150, driven by renewed momentum from the ETF sector.
Van de Poppe’s analysis highlights a generally positive sentiment in the crypto space, with potential bullish trends for both major cryptocurrencies if key resistance levels are breached.
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