Crypto Analyst Michaël van de Poppe Says Bitcoin Will Hit This Six-Figure Price After Blowing Past $63,000

Crypto analyst Michaël van de Poppe is bullish on the Bitcoin BTC/USD and says it is set to hit a six-figure price in the current cycle.

He says that after Bitcoin broke above the $55,000 price for the first time since May, its current support is around the $49,800 to $51,000 level.

“So we get some sideways action, get to watch the all-time high, get down sideways action, big breakout. And then we get into the final phase in which you can copy-paste this entire run [$15,000-$63,000] towards the one that we have above $63,000. And then we probably assume that we’re going to get towards $250,000 or higher,” says Van de Poppe. 

“At this point, I think that given the breakout that we’ve got, the level that we should be watching is the range low that we have been acting in previously to. So this entire region that we’ve got on the lows here, which is that area between $49,800 to $51,000,” he adds. 

Van de Poppe says Bitcoin is likely to replicate a previous pattern, when BTC surged from around $15,000 to slightly over $63,000, and possibly reaching a new all-time high of at least $250,000.

Last month he said that Bitcoin has continued to hold above the support level range of $46,500 to $47,000.

Investors should watch as the apex cryptocurrency reclaims the key $50,000 level as there would be some more consolidation happening, and then there would be a continuation happening in the bull market.
Related Link: Bitcoin Is Heating Up Again And Nearing Resistance: Where Might It Be Headed Next?