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Veteran Analyst Announces Two Price Levels That Could Take Bitcoin to New Record and $52,000
Crypto monetary analyst Michaël van de Poppe shared his Bitcoin and general market assessment in his statement.
According to the analyst, critical decisions await Bitcoin in the coming period. Van de Poppe said that the $60,500 to $61,000 threshold for the BTC price is still holding up, while breaching $63,000 means removing the next hurdle to reach the all-time high.
However, the analyst stated that if the $60,500 support level is broken, he sees $52,000 to $55,000 as the next support zone.
Referring to the altcoin market, the analyst claimed that many altcoins have formed double bottoms and the probability of a rally has greatly increased. He said that market sentiment is low as people expect the downside momentum to continue.
In addition, assessing Bitcoin dominance, van de Poppe claimed that this metric has probably seen its peak. At the time of writing, BTC dominance stands at 55.28%.
According to the analyst, the Ethereum ETF decision, which will be announced next week, could be a big positive trigger for the markets. The analyst said that this time he expects the needle to turn on the altcoin side.
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#Are we still in the bull market?#
#What's your ETH price prediction upon the ETF decision?#