A closely followed strategist thinks that Bitcoin (BTC) may be on the verge of a big bang. According to Van de Poppe, if Bitcoin exceeds $30,000, it is likely to rise to $46,000. Also, there may be significant breaks in altcoins. Here are the details.
Michaël van de Poppe, who closely follows the crypto market, said that if BTC exceeds $ 30,000, it will rise up to $ 46,000. predicts. According to the analyst, a change in the US Fed’s hawkish stance could act as a catalyst for Bitcoin to go higher.
“Bitcoin is still moving towards the $28,000-30,000 resistance.
Powell’s policy of raising interest rates is likely coming to an end -> this is also a component for relief.
If Bitcoin exceeds $28,000-30,000, the next levels will be $40,000 and $46,000 + altcoins are likely to have significant breaks due to trust.”
Van de Poppe, who also specifically examines the popular altcoin XRP, draws attention to the $0.53 resistance for the sixth largest crypto asset. According to the analyst, when XRP surpasses this resistance, it can start its next rally.
“It’s showing strength, and that’s usually a sign for altcoins to show strength as well. Right now, it’s stuck in a range. The focus is primarily on entries between $0.455-0.48. If we turn the resistance at $0.53 to support, I think we will see the next bullish move.”
Koinfinans.com As we reported, another altcoin on the crypto analyst’s radar is Verasity (VRA). According to Van de Poppe, VRA could be poised for a big boom in earning over 230%.
“We mentioned earlier that it was time for a pullback during the big upside break and we set this level at $0.004. We didn’t get there, but we did see a correction and some stability to $0.005. It seems likely that we will consolidate before hitting $0.02.”
You can follow the current price action here.