Amid the renewed strength recently shown by bitcoin, Michael Van De Poppe, a renowned cryptocurrency analyst and trader, has x.com/CryptoMichNL/status/1777041750156014047″ target=”_blank” rel=”nofollow”>Offered an intriguing prediction for btc, highlighting that the crypto asset is likely to reach the $300,000 threshold in this bull cycle.
bitcoin Price Aiming for Unprecedented Heights This Cycle
During the last month, the price of bitcoin has been consolidating and has not been able to sustain its rise beyond its new high of $73,000. However, things could change soon as Michael Van De Poppe expects the coin to rise massively in the short term.
His forecast coincides with the anticipation around the next bitcoin Halving It is expected to take place in less than 12 days, fueling optimism within the crypto community.
According to the expert, the largest cryptocurrency asset by market capitalization is still experiencing significant resistance. However, if bitcoin manages to break out of this zone, the currency could see a progression towards new all-time highs in the coming months.
Given the btc reached the $70,000 price level before the halving event, Poppe believes it is likely to rise to unprecedented levels, particularly reaching a high of $300,000 in this bull run.
The post said:
bitcoin still faces crucial resistance. If this breaks, we will see a continuation towards new all-time highs. bitcoin at $70,000 before the halving. Probably $300,000 this cycle.
Poppe highlighted that the price of bitcoin returned to the $70,000 level over the weekend. As a result, he has pointed out the bullish indicators currently occurring in the crypto landscape.
The analyst also noted that the strength of the cryptocurrency markets has now surpassed our perceptions, and declines in altcoins represent opportunities for good inflows. Furthermore, btc price action demonstrates the potential to reach a new all-time high before the halving, and the shift in favor of altcoins is on the horizon.
Altcoin season will begin in a few weeks
Poppe is super optimistic towards a 'altcoin season'. However, it is important to note that the value of altcoins has frequently coincided with changes in bitcoin's supremacy. But although bitcoin's dominance is still at its peak before the halving, Poppe believes these coins still have a lot of momentum.
He x.com/CryptoMichNL/status/1777095378799567035″ target=”_blank” rel=”nofollow”>defenders which will undoubtedly begin a new altcoin season in the coming weeks. “We always have one, we have seen Meme coins, Solana (SOL) ecosystem and ai,” he said.
The expert's statement suggests that the Solana ecosystem, artificial intelligence projects, and meme coins have led the altcoin market in recent months. Therefore, Michael Van De Poppe has argued that in the impending alt-season, crypto initiatives that prioritize the tokenization of real-world assets (RWA), the ethereum (eth) ecosystem, and the decentralized physical infrastructure network ( DePIN) are below, paving the way for others this cycle.
At the time of writing, the overall altcoin market, excluding bitcoin and ethereum It was valued at $753.47 billion. This indicates a 2% increase in market capitalization in the last 24 hours.
Featured image from iStock, chart from Tradingview.com
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