Analyst Reveals Huge Bitcoin Price Target As BTC Stays Close To $70,000 Before Halving
The widely respected cryptocurrency strategist believes that Bitcoin’s current strength will push BTC to price levels this cycle that will exceed people’s expectations.
Analyst Michaël van de Poppe told his 711,000 followers on social media platform
According to the cryptocurrency trader, he sees BTC generating more than 4x profits from current levels before witnessing a cycle high.
“Bitcoin still faces significant resistance.
If this breaks, we will see it continue towards new all-time highs.
Bitcoin is worth $70,000 before halving.
“I think it will be $300,000 this cycle.”
Source: Michaël van de Poppe/X
Van de Poppe also said the crowd is probably underestimating the strength of Bitcoin and the rest of the cryptocurrency market this cycle.
“- The market is more powerful than we think.
– The drop in ltcoin is a massive item.
– A new all-time high pre-halving is likely.
– The rotation into altcoins is coming.”
As of this writing, the value of Bitcoin is $71,289, up more than 2% in the last 24 hours.
When it comes to altcoins, Van de Poppe expects traders to shift their capital into three cryptocurrency subsectors:
“People ask. ‘Do we get an ‘altseason?’
Yes we are
We always have one, we’ve seen it in memes, the SOL ecosystem, and artificial intelligence.
Next will likely be the ETH ecosystem, DePIN (Decentralized Physical Infrastructure Network) and RWA (Real-World Assets).”
DePIN leverages blockchain technology to operate and maintain physical infrastructure such as energy grids, while RWA refers to the tokenization of real-world assets such as stocks, commodities, and real estate.
Van de Poppe is also looking at the TOTAL3 chart, which tracks the market capitalization of all altcoins minus Ethereum (ETH) and stablecoins. TOTAL3 continues to go strong after weekly trading volume surpasses $700 billion, according to analysts.
“It seems like the rally in TOTAL3 (altcoin market capitalization) is not over after the close this week.”
Source: Michaël van de Poppe/X
As of this writing, TOTAL3 is worth $749 billion.
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
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