A Crypto Analyst Predicts Bitcoin Could Reach New All-Time High by July
A popular crypto analyst has shared his optimistic outlook on Bitcoin (BTC), suggesting that the leading cryptocurrency could soar to a new all-time high (ATH) in the near future.
In a recent Twitter thread, Michaël van de Poppe, a well-known crypto trader with a significant following, informed his 792,000 followers on X that he believes Bitcoin is on track to achieve a new ATH by the end of next month. He also mentioned that he anticipates a minor dip in the price of BTC before a significant surge.
“Bitcoin continues its upward momentum towards breaking the all-time high. I expect a brief period of consolidation before a major breakout, paving the way for a new ATH by July 25th.”
Van de Poppe emphasized the importance of overcoming a crucial resistance level at $108,900 for Bitcoin to surpass its previous ATH.
“Bitcoin has absorbed the market liquidity, indicating strong upward momentum. However, clearing this final hurdle is essential for reaching a new ATH. I anticipate a brief consolidation phase followed by a breakout towards new highs within the next 1-2 weeks.”
The analyst also suggested that a potential Bitcoin rally could lead to a surge in altcoin prices as short-squeezes occur, driving up the value of alternative cryptocurrencies.
“Altcoins are showing strong potential for a significant upward movement. If Bitcoin experiences a breakout, altcoins are likely to outperform. This could be fueled by widespread short squeezes, rapidly accelerating the price of altcoins and erasing losses in a matter of days or weeks.”
As of the latest update, Bitcoin is trading at $107,633, with a slight decrease in value over the past 24 hours.
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