Cryptocurrency Trader Michaël van de Poppe Predicts Bitcoin (BTC) Could Hit $80,000 This Month

Cryptocurrency trader and expert Michaël van de Poppe has projected that Bitcoin BTC/USD could potentially hit the $80,000 mark this month

Cryptocurrency trader and expert Michaël van de Poppe has projected that Bitcoin (CRYPTO: BTC) could potentially hit the $80,000 mark this month, following a possible retest at the $71,679 level.

What Happened: Van de Poppe made his forecast on social media platform X. He anticipates that Bitcoin might undergo a minor correction before climbing over 5% from its current price.

"Bitcoin is consolidating around a new ATH. I do believe we'll continue, but probably have a slight correction first – dips ready to be bought. Next? $80,000 in November," he said in the post.

#Bitcoin is consolidating around a new ATH.I do believe we'll continue, but probably have a slight correction first –> dips ready to be bought.Next? $80,000 in November. pic.twitter.com/I10dtGn0Gd

The trader attributes this potential surge to substantial inflows into Bitcoin exchange-traded funds (ETFs) in the aftermath of the victory of pro-crypto candidate Donald Trump.

Also Read: Analyst Says This Crypto Could Explode By Up To 3.765%, And It Is Not Bitcoin Or Solana

In another post on X he said, "Record-breaking inflow in Bitcoin since Trump won the elections. More than $2 Billion has flown into the Bitcoin ETF. More than $120 million has flown into the Ethereum ETF. The bull market is here."

Record-breaking inflow in #Bitcoin since Trump won the Elections.More than $2 Billion has flown into the Bitcoin ETF.More than $120 million has flown into the Ethereum ETF.The bull market is here. pic.twitter.com/rwDqRFI6ia

At the time of writing, Bitcoin was trading at $75,966, showing an increase of over 11% since its Election Day low of $68,206.

Van de Poppe also expressed long-term bullish sentiments for Ethereum (CRYPTO: ETH), suggesting it will continue to rally higher with retests of lower price levels. Ethereum is currently trading at $2,920, up more than 21% from its Election Day low of $2,403.

Why It Matters: The prediction by van de Poppe is significant as it comes at a time when Bitcoin is experiencing a resurgence following the US presidential election.

The victory of pro-crypto candidate Trump has led to an influx of investments into Bitcoin ETFs, indicating a bullish market. Furthermore, the trader’s positive outlook for Ethereum suggests a broader upward trend in the cryptocurrency market.

The above is the detailed content of Cryptocurrency Trader Michaël van de Poppe Predicts Bitcoin (BTC) Could Hit $80,000 This Month. For more information, please follow other related articles on the PHP Chinese website!