Michaël van de Poppe, a highly followed crypto trader, anticipates a significant bullish surge for Bitcoin BTC/USD in the near future, as the apex cryptocurrency crossed the $100,000 mark once again ahead of President-elect Donald Trump's inauguration.
What Happened: Van de Poppe predicted a forthcoming bullish move for Bitcoin. However, he suggests that altcoins, particularly those in the Ethereum ETH/USD ecosystem, will likely outperform Bitcoin.
"Very likely we’ll see a new impulse on #Bitcoin in the coming period," he said.
Factors such as lower yields, a weaker dollar, and progressive crypto regulation are propelling the market momentum, according to van de Poppe. He also notes that the current crypto cycle is more “complex” than the previous one, a trend that has been ongoing since the last cycle.
Van de Poppe plans to increase his exposure to altcoins, expecting a breakout. He stated, “At this point: I'd like to be maximally exposed to risk as we're literally on the start of that upwards move for altcoins."
See Also: Trump Plans Crypto-Friendly Executive Orders In Early Days Of Presidency: Report
Why It Matters: The crypto market has been experiencing a surge of optimism following signals of a pro-crypto policy shift from the incoming administration under Trump.
Key figures and investors in the crypto space have expressed relief at the anticipated policy change, buoyed by appointments of crypto-friendly individuals to prominent positions, including David Sacks as AI and crypto czar, and Paul Atkins as the nominee for SEC Chair.
These moves, coupled with expectations of executive orders designed to establish a Bitcoin reserve, signal a new era for the industry in the U.S.
Furthermore, leading coins remained steady on Thursday amid reports that President-elect Donald Trump may announce several pro-cryptocurrency measures after being sworn in. Bitcoin wiggled in the $100,000 region, a day after reclaiming the psychologically important level on softer inflation data.
Price Action: At the time of writing, Bitcoin was trading at $102,403, gaining 0.6% in the last 24 hours, according to Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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