A widely respected cryptocurrency analyst believes Bitcoin (BTC) could hit six figures before the end of the year as the top digital asset by market capitalization regains the $65,000 level.
Cryptocurrency trader Michaël van de Poppe told his 725,400 followers on social media platform X that Bitcoin could rise by more than 53% from its current value.
He believes the Federal Reserve’s interest rate cuts and increased global liquidity are bullish catalysts for Bitcoin and other digital assets.
“Gold continues to rise, while silver has reached its highest price level in 10 years. Global liquidity is increasing significantly and altcoins have barely begun. “It is likely that Bitcoin will be trading between $90,000 and $100,000 before the end of the year.”
Bitcoin’s recent breakout into the $65,000 range could put the flagship cryptocurrency on track to hit a new all-time high of around $74,000, the analyst says. He added that many altcoins are already starting to rally.
“Bitcoin will soon break $65,000 and head towards a new ATH (all-time high). Altcoins are more awake and ready for another 2x return.”
The analyst also said that altcoins are likely to maintain their upward trend in the coming months.
“Altcoins are experiencing a significant awakening, but this is nothing compared to what we will see over the next six months. It will be glorious. “It already is.”
As of this writing, Bitcoin is trading at $65,929, up 1.3% in the last 24 hours.
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