CoinDesk reports:
A highly regarded cryptocurrency analyst expressed optimism towards Bitcoin (BTC) as the flagship cryptocurrency hovers above $70,000.
During a new strategy meeting, trader Michaël van de Poppe told his 734,900 followers on social media platform X that the price of Bitcoin could rise by 10% to 38% from now until the end of the year.
“In less than two to four weeks, we are approaching Bitcoin’s all-time high. What’s next? I believe November will be $80,000, and December will be $90,000 to $100,000.”
At the time of writing, the trading price of Bitcoin was $70,258, down about 4.7% from the historical high of $73,800 set in the first quarter of this year.
According to van de Poppe, the top cryptocurrency is consolidating before rebounding to new all-time highs.
“As long as we stay above $70,000, it’s party time.”
Source: Michaël van de Poppe/X
Van de Poppe also offered his forecast for the top altcoin Ethereum (ETH). According to the trader, Ethereum could rise by more than 13% in November after maintaining support around $2,300.
“Ethereum lost liquidity and returned to resistance. I believe we will break through it in the next one to two weeks and see $3,000 or more in November.”
Source: Michaël van de Poppe/X
At the time of writing, the trading price of Ethereum was $2,522, down 5% in the past 24 hours.
Regarding the Ethereum/Bitcoin pair (ETH/BTC), traders said that the bearish divergence on the daily chart “may be effective.” A bearish divergence occurs when indicators like the relative strength index oscillate to higher lows while prices make lower lows.
The analyst stated that if ETH/BTC continues to decline, it could depreciate by about 15% from the current price to 0.031 BTC.
Source: Michaël van de Poppe/X
The current price of ETH/BTC is 0.0359 Bitcoin.
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