A widely followed cryptocurrency analyst expresses mild shock at Bitcoin's (BTC) recent push.
Cryptocurrency trader Michael van de Poppe Tells He told his 692,300 followers on social media platform X that BTC markets are showing amazing strength.
“To be fair, I am positively amazed at the current strength of Bitcoin.
Already priced at $46,500.
It seems likely that we are looking for liquidity above the highs and perhaps above $51,800 before the halving.
Markets are strong. Declines of 20% in Bitcoin are considered a buy.
According to Van de Poppe, inflows into Bitcoin from exchange-traded funds (ETFs) would be the ideal solution. Catalyst For the king of cryptocurrencies to reach more than $250,000.
“Inflows into Bitcoin ETFs reached +$1.8B in the first few weeks.
This is higher if you reduce the grayscale flow by forced FTX filtering.
The beginning of a bull cycle and Bitcoin worth over $250,000.”
BTC is currently worth $47,256, Van de Poppe She suggests The key asset could reach $55,000 before the Bitcoin halving, currently expected in April.
“Bitcoin is above $47,000.
The range remains clear, with $48,000-$50,000 as a potential upside for the coming period, but given the recent strength, we may see $53,000-$55,000 before the halving.”
The halving is a pre-programmed event that halves the issuance of new BTC to miners.
Finally, the analyst Expect Altcoin markets will follow in BTC's footsteps.
“Altcoins are slowly following Bitcoin's lead.
The peak of this cycle is likely to reach between $10 and $15 trillion.
According to CoinGecko, the current market cap of altcoins is less than $9 trillion.
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