Renowned crypto analyst Michaël van de Poppe has indicated that Bitcoin BTC/USD could be on the verge of testing its all-time high, contingent on its ability to maintain a key price level.
What Happened: On Tuesday, van de Poppe, a prominent figure in the cryptocurrency community, suggested that Bitcoin is ascending towards a potential retest of its all-time high.
“#Bitcoin climbing towards a renewed test of the all-time high. If it holds above $69K, it seems likely that we’ll have such a test,” he wrote on X, formerly Twitter.
Van de Poppe’s post came as Bitcoin has been experiencing a significant rally, with the cryptocurrency community closely monitoring its performance. The tweet was posted on a Sunday, reflecting real-time insights into the weekend’s crypto market dynamics.
At the time of writing this article, Bitcoin was trading at $70,773.87 as per Benzinga Pro.
Why It Matters: Bitcoin’s proximity to the $69,000 mark has been a topic of interest among investors and analysts alike. Major cryptocurrencies are surging with predictions of Bitcoin potentially hitting $125,000 before 2025.
However, some market veterans. Arthur Hayes, BitMEX co-founder, warned of a possible “raging firesale” in the crypto market, influenced by the upcoming Bitcoin halving and the Federal Reserve’s policies.
Van de Poppe himself has been vocal about strategies for capitalizing on the crypto market. Recently, he shared his plan for making millions in crypto throughout 2024, emphasizing strategic portfolio management as a key to success.
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