Analyst Confident Bitcoin Will Not Collapse Soon, Targets $88,000 Resistance
- Bitcoin (BTC) is currently trading at $80,492, down 1.5% in the last 24 hours.
- Analyst Michaël van de Poppe sees potential for BTC to reach $88,000, a rise of over 9%.
- Van de Poppe notes that Bitcoin’s price is above the critical support level of the 21-Day moving average.
- He predicts significant upward movement for altcoins as Bitcoin gains momentum.
Michaël van de Poppe emphasizes that there are no immediate risks for Bitcoin to experience a sudden decline. He anticipates strong performance from altcoins as increased market confidence from Bitcoin’s movements could lead to rapid price increases in these assets.
The analyst believes Bitcoin could test resistance levels between $85,000 and $88,000 soon while predicting altcoins may see strong gains of over 20%. This outlook suggests a bullish trend for the cryptocurrency market overall. (Source)
