In the fast-paced world of cryptocurrencies, Michaël van de Poppe, a renowned crypto analyst, sets an optimistic tone for the upcoming fourth quarter. He calls it “Uptober.” Van de Poppe’s positivity is supported by several factors that could make the next three months extremely promising for Bitcoin and the broader cryptocurrency market. Here are the details…
Bitcoin expectation is on the rise
One of the key factors behind Van de Poppe’s bullish outlook is the potential approval of cryptocurrency exchange-traded funds (ETFs). These investment vehicles have been long awaited as they could bring a new wave of institutional interest to the market. Van de Poppe believes that the green light for ETFs could provide a significant boost to Bitcoin’s price in the coming months. In addition, van de Poppe predicts a price increase before the halving. cryptokoin.com As we reported, halving occurs every four years. Additionally, it has historically been associated with significant price increases. If history is any indication, the next halving could be the catalyst for another impressive rise in Bitcoin’s value.
Welcome to Uptober.
Welcome to Q4, which is leading towards a great quarter, potentially fueled by ETF approvals and the pre-halving rally.
Potentially #Bitcoin to $40,000 is reasonable.
— Michaël van de Poppe (@CryptoMichNL) October 1, 2023
In Van de Poppe’s view, the current quarter is critical. It is not out of the question that the value of Bitcoin will reach $40,000 this quarter. He suggests that the favorable market conditions we are witnessing could provide a basis for achieving this price target. Interestingly, the analyst’s prediction came just hours after a potentially impactful political event in the United States. On September 30, 2023, the US Senate passed the short-term spending bill. Thus, he narrowly averted a government shutdown. This maneuver, which took place just three hours before the federal government closed its doors, created curiosity.
President Joe Biden quickly signed the bill, keeping the government in operation for the next 45 days. The 71-page bill, formally known as H.R. 5860 and drafted by House Speaker Kevin McCarthy, appropriates funds for disaster relief but does not provide new financial aid for Ukraine’s ongoing conflict with Russia. This development reflects the US government’s current priorities, which could impact global financial markets, including cryptocurrencies.
The analyst gave a message to crypto enthusiasts
On the eve of “Uptober”, the analyst had a message for his followers and crypto enthusiasts around the world. He encouraged them to secure their positions in the likes of Chainlink (LINK), Bitcoin (BTC) and Ethereum (ETH). According to Van de Poppe, the bear market appears to be nearing its end. Additionally, the upcoming rise promises to be significant. The analyst congratulated those who persistently accumulate and hold crypto assets. He also emphasized that their strategic approach will pay off greatly in the coming quarter of growth. As a result, the crypto market is preparing for “Uptober”. Meanwhile, van de Poppe’s positive outlook is adding to the excitement within the cryptocurrency community.
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