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- Crypto analyst Michaël van de Poppe has revealed his predictions for Bitcoin and altcoins in the upcoming period.
- After Bitcoin’s rise following the announcement of weak economic data from the US, the analyst stated that cryptocurrencies almost always experience a sell-off before FOMC meetings.
- Van de Poppe also suggested that the total crypto market value could soon reach an all-time high, and altcoins could triple their values within two months.
Renowned crypto analyst Michaël van de Poppe shares his predictions for Bitcoin and altcoins, suggesting a potential surge in the crypto market value.
Bitcoin’s Rise Amid Weak US Economic Data
Following the announcement of weak economic data from the US, Bitcoin experienced a significant rise. According to crypto analyst Michaël van de Poppe, this is a common trend, with cryptocurrencies almost always experiencing a sell-off before FOMC meetings. The analyst also noted that the poor economic data led to a challenging week for the DXY index.
Bitcoin Price Predictions
Van de Poppe predicts a correction in the Bitcoin price to the level of $60,000 to $61,000, after which he believes the world’s largest cryptocurrency will move sideways at this level. At the time of writing, the BTC price is trading at around $63,600 following a roughly 7% increase.
Outlook for Total Crypto Market Value
Discussing the overall crypto market value, the analyst claimed that the total market value has experienced a correction of about 25% and that this event likely marks the end of the correction. Van de Poppe argued that the total crypto market value could soon reach an all-time high. He also suggested that altcoins could triple their values within two months, potentially attracting back individual investors who previously missed out.
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Conclusion
While these predictions offer an optimistic outlook for the crypto market, it’s important to remember that they are not investment advice. Market trends can be unpredictable, and investors should always conduct thorough research and consider their financial situation before making investment decisions.
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