BTC Poised For Tremendous Upside
Bitcoin is likely heading toward a six-figure valuation by the end of 2024.
Well-known crypto analyst Michaël van de Poppe observed in a recent X post that the price of Bitcoin could appreciate by over 54% from its current levels to as high as $100,000. Van de Poppe believes the lowered interest rates in the US and the subsequent China stimulus plans are bullish catalysts for BTC and other cryptocurrencies. This cycle could further strengthen Bitcoin’s appeal as a hedge against the government’s relentless money-printing policies.
He also noted that Bitcoin’s traditional safe-haven rivals, gold and silver, have been on a roll recently, suggesting a major surge for BTC is on the horizon. Given historical precedent, Bitcoin should ultimately follow the precious metals higher.
“Gold continues to push higher, while silver has reached the highest price level in a decade. Global liquidity is significantly increasing and altcoins have barely started,” the crypto trader wrote. “Before the end of the year, we’re likely seeing Bitcoin trading between $90,000-$100,000.”
Bitcoin is currently looking to flip the resistance zone at $65,000. If $65K can be flipped into support, Bitcoin could be on the path to new lifetime peaks.