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The price of Bitcoin (BTC) witnessed a huge rally recently as it officially ceased its extended consolidation period. This price rebound has injected bullish momentum onto the broader market as investor sentiment has also turned positive. Moreover, there is a strong likelihood of more gains from the coin as bullish signals have emerged.
Renowned crypto analyst and trader Michaël van de Poppe has shared his insightful analysis of Bitcoin’s future. Earlier today, he tweeted and explained that the BTC price is following the plan, and bullish moves are expected. The analyst explained that he is keeping a close eye on the next resistance level for Bitcoin, possibly the $66,000 range.
Michaël van de Poppe revealed that the market may witness a pullback if this level turns into a resistance zone. However, he mentioned that the broader scenario remains quite bullish, and he is expecting that the Bitcoin price will witness a new all-time high (ATH) in October, which is almost 10 days away.
Bitcoin all-time high scenario
The current all-time high of Bitcoin is $73,780, which was achieved back in March. Since then, many have predicted that the BTC price would hit new highs, potentially reaching the much-anticipated $100,000 mark. This sentiment prevailed because Bitcoin achieved two major milestones earlier this year.
Earlier, in January, Bitcoin spot ETFs officially went live in the United States, paving the way for institutional adoption of the coin. Later, in April, the fourth Bitcoin halving event successfully completed. Consequently, many Bitcoin price predictions emerged as more gains were expected from the coin.
While it never happened and Bitcoin entered a consolidation phase in the last few months, it appears that the bullish momentum is returning. Michaël van de Poppe is expecting a new all-time high for the Bitcoin price next month. Overall, positive movements are expected throughout the last quarter of this year.
Tomiwabold Olajide
Arman Shirinyan
Vladislav Sopov
Godfrey Benjamin