Crypto Bull Run Ahead: Bitcoin, Ethereum, and Altcoin Set for New Highs!
Crypto Market Poised for New Record Highs, Says Analyst Michaël van de Poppe
Market Overview: A Bullish Outlook
Prominent trader Michaël van de Poppe is optimistic about the future of the cryptocurrency market, predicting that new all-time highs are on the horizon. He shared his insights with his 794,400 followers on the social media platform X, focusing on the TOTAL chart, which monitors the market capitalization of all cryptocurrencies, excluding stablecoins.
Van de Poppe notes that the TOTAL chart has shown a consistent pattern of higher lows since the beginning of 2024, suggesting a significant breakout is imminent. He emphasizes, “The crypto market capitalization is on a steady upward trajectory, and it’s only a matter of time before we reach new all-time highs.”
Bitcoin’s Potential for Growth
As for Bitcoin, Van de Poppe believes the leading cryptocurrency is in a critical phase of development. He states, “This period can still be seen as a buildup for Bitcoin, and I anticipate a substantial upward movement in the coming weeks.” Currently, Bitcoin is trading at $109,100.
Ethereum: Key Resistance Level
Turning to Ethereum, Van de Poppe highlights that ETH could experience a significant surge if it surpasses the resistance level at $2,800. He remarks, “Once it breaks out in either direction, we can expect a major price movement. Given that we’ve recently seen a low of $1,700 and market sentiment is at a low point, I believe an upward breakout could signal the beginning of a bull market.” At present, Ethereum is valued at $2,570.
altcoin Spotlight: Bittensor (TAO)
The trader also has his eye on Bittensor (TAO), an AI-focused cryptocurrency. Van de Poppe suggests that TAO must break through its resistance around $350 to ignite a rally towards his price target. He notes, “TAO is on the verge of re-entering its trading range, which could lead to a move towards the upper end of that range at $470.” Currently, TAO is priced at $328.
Conclusion: Stay Informed
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Disclaimer
The views expressed in this article are for informational purposes only and do not constitute investment advice. Investors should conduct their own research before making any high-risk investments in cryptocurrencies or digital assets. All transactions and trades are undertaken at your own risk, and any potential losses are your responsibility.
