Bitcoin
Bitcoin will have a ‘great second half’ in 2024, says crypto analyst Michaël van de Poppe – Here are his goals
A closely followed cryptocurrency analyst says that Bitcoin (BTC) will have a great second half of the year.
In a new strategy session, crypto trader Michaël van de Poppe account His 722,400 followers on social media platform X say the cryptocurrency king is set to end 2024 with a bang as flows into exchange-traded funds (ETFs) begin to gather pace.
“Bitcoin is looking to continue rising. The largest net ETF inflows were set (over $400 million) in the last month. Gold is making a new ATH. It’s going to be a great second half of 2024.”
Source:Michaël van de Poppe/X
Van de Poppe continues to say which predicts that the top crypto asset by market cap will hit the $100,000 mark, but does not provide a specific timeframe.
“The largest amount of net inflows into Bitcoin since late June! Despite the negative news, Bitcoin price is stable at $65,000 with consistent institutional inflow. It’s only a matter of time until we see Bitcoin at $100,000.”
Source:Michaël van de Poppe/X
The analyst continues with observation that while BTC looks set for a breakout during the second half of 2024, it still lags behind gold because of the recent BTC sell-off from Mt. Gox.
Van de Poppe says that if it weren’t for the sell-off, BTC would be at an all-time high.
“BlackRock mentioned that Bitcoin is a hedge against global uncertainty. Yields continued to fall substantially, through which gold made a new ATH. BTC is lagging behind. Given lower interest rates, Bitcoin should be at an ATH. Mt. Gox prevented that.”
Source:Michaël van de Poppe/X
Bitcoin is trading at $65,141 at the time of writing, up 1.3% in the past 24 hours.
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