cryptocurrency analyst Michaël van de Poppe said in his statement: Bitcoin, Ethereum And to altcoins offered a general perspective.
According to the analyst, Bitcoin is trading in a tight range and if it surpasses the $63,000 level, it could see a rise to around $70,000 to $72,000.
On the other hand, commenting on Bitcoin dominance, van de Poppe claimed that the metric peaked at 57.50%. He added that he focused on the altcoin side.
In addition, the analyst argues that the Bitcoin price moves in 4-year cycles and thinks that the current cycle will last until the end of 2026 or possibly 2027. Then, he claims that there may be a crisis in the cryptocurrency market.
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Finally, the analyst, who evaluated the total market value of the altcoin, said that there was a normal correction in dollar terms in this chart. He argued that the correction in Bitcoin pairs has deepened.
BTC price is trading at $60,972 at the time of writing this article and has lost 4.32% in value in the last week. In the last month, the loss rate was 8.82%. Critical data coming from the USA next week will affect the fate of Bitcoin and the cryptocurrency market.
*This is not investment advice.
Source: Bitcoinsistemi.com