CoinDesk reported that a highly regarded cryptocurrency analyst expressed optimism towards Bitcoin (BTC) as the flagship crypto asset hovers above $70,000.
During a recent strategy session, trader Michaël van de Poppe told his 734,900 followers on social media platform TenX that the price of Bitcoin could potentially rise by 10% to 38% from now until the end of the year.
“In less than two to four weeks, we’re really close to the all-time high of Bitcoin. What’s next? I think November is $80,000, and December is $90,000 to $100,000.”
At the time of writing, Bitcoin was trading at $70,258, down approximately 4.7% from the historical high of $73,800 set in the first quarter of this year.
According to van de Poppe, the top cryptocurrency by market cap is consolidating before rebounding to a new all-time high.
“As long as we stay above $70,000, it’s party time.”
Van de Poppe also offered his prediction for the top altcoin Ethereum (ETH). According to the trader, Ethereum could rise by over 13% in November after holding support around $2,300.
“Ethereum lost liquidity and returned to resistance. I think we’ll break through it in the next one to two weeks and see above $3,000 in November.”
At the time of writing, Ethereum was trading at $2,522, down 5% in the past 24 hours.
Regarding the Ethereum/Bitcoin pair (ETH/BTC), traders noted that the bearish divergence on the daily chart “may be effective.” When indicators like the Relative Strength Index oscillate to higher lows while the price sets lower lows, a bearish divergence occurs.
The analyst suggested that if ETH/BTC continues to decline, it could depreciate by about 15% from its current price to 0.031 BTC.
The current price of ETH/BTC is 0.0359 Bitcoin.
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