A closely watched crypto analyst says the crypto markets are about to go parabolic and predicts a huge six-figure price tag for Bitcoin (BTC).
In a new strategy session, crypto trader Michaël van de Poppe explains tells His 733,700 followers on social media platform
“It’s time for the markets to go vertical. If, that is the question, you believe in the four-year halving, then we are on the cusp. Whether it’s November, December, it doesn’t matter. End result is the same. Bitcoin to $300,000-$500,000.”
The trader’s chart indicates that this time BTC has only seen a small portion of the growth it historically sees during the half-years, meaning it has a lot of room to flourish if it stays true to the pattern.
The BTC halving takes place every four years in April and halves the reward for miners. The last halving took place earlier this year.
According to Van de Poppe, the cryptocurrency will consolidate and then spark a rally to the upside next week.
“Bitco had a dip towards $65,000. Now, consolidation and breakout starting next week. I expect yields to start falling again soon, which would push markets higher.”
The trader’s chart indicates that BTC will shoot past the $71,000 price tag sometime in November before consolidating and taking off.
Bitcoin is trading at $67,892 at the time of writing, a gain of 1.14% over the past 24 hours.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/frank60
