As the Bitcoin (BTC) price approaches $90,000, remarkable predictions continue to come from the crypto market.
The bull run in the crypto world continues unabated. This bullish cycle, called the "Donald Trump effect", has led BTC to break record after record. The leading cryptocurrency excited investors by approaching $90,000 during the day.
Spot Bitcoin ETFs recorded a net inflow of $1.11 billion over the past day. This massive inflow caused Bitcoin to surge by 9% in the last 24 hours.
Crypto analyst Michael van de Poppe predicted that Bitcoin is still in the early stages of its rise and that this momentum will continue to six-figure levels. Poppe likened this rise in Bitcoin to the dot-com bubble and made an optimistic prediction about the potential future rise of cryptocurrencies. Another analyst, Coosh, stated that BTC is targeting a price level between $270,000 and $340,000.
Bitcoin (BTC), which saw a trading volume of $138 billion in the last 24 hours, attracted attention by increasing its market value to $1.76 trillion. Analysts predict that BTC's bull run, which has increased by nearly 30% in the past week, will continue.
Michael van de Poppe said that he expects Bitcoin's rise to continue and the BTC price to reach $ 500,000. Poppe also stated that he believes that altcoins will gain momentum in parallel with Bitcoin's rise.
The US CPI data to be released on November 13 could have a significant impact on the market. Expectations are that the CPI will be announced at 2.4%. Poppe thinks that there could be a short-term correction in Bitcoin before this data and evaluates the possibility of a 10% pullback.
Poppe spoke on this matter as follows:
"The CPI data will be released tomorrow, so I expect a decline in the short term. A 10% correction could occur."
The analyst noted that market volatility may increase and prices may fluctuate in the next 48 hours.
Bitcoin appears to be in a strong uptrend and is headed for bigger price targets in the coming days. However, based on analysis and market data, a short-term correction is also possible.