A widely respected cryptocurrency analyst has expressed pleasant shock over Bitcoin (BTC)’s most recent push.
Cryptocurrency trader Michaël van de Poppe says 692,300 followers on social media platform
“To be fair, I am very surprised by the current strength of Bitcoin.
It’s already $46,500.
We seem to be looking for liquidity above the peak and above $51,800 before the halving.
The market is strong. A 20% drop in Bitcoin is a buy.”
According to Van de Poppe, the largest share of inflows into Bitcoin will come from exchange traded funds (ETFs). catalyst Crypto King To Reach Over $250,000
“Inflows into Bitcoin ETFs are over $1.8 billion in the first few weeks.
This will be higher if FTX liquidation reduces grayscale outflows.
Start of bull cycle and Bitcoin $250,000+.”
Van de Poppe with BTC currently worth $47,256 proposal The flagship asset could hit $55,000 before the BTC halving, currently expected in April.
“Bitcoin is above $47,000.
A potential high in the coming period in the $48,000-$50,000 range is still clear, but given recent strength, $53,000-$55,000 could see a pre-halving.”
Halving is a pre-programmed event that reduces new BTC issuance to miners by half.
Finally, the analyst Expect The altcoin market follows BTC’s lead.
“Altcoins are slowly following Bitcoin.
“This cycle will likely peak between $10 and $15 trillion.”
According to CoinGecko, the current altcoin market cap remains below $9 trillion.
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