Macroeconomist shares shortterm timetable for Bitcoin testing 73000 ATH

Coin World Report:
Renowned market commentator and macroeconomist Michaël van de Poppe holds a bold and optimistic view on the future of Bitcoin.
His latest comment suggests that the leading cryptocurrency may test its all-time high (ATH) in the next two to four weeks. His prediction comes after what he believes to be a minor market correction, which may pave the way for a price rebound.
Particularly, Bitcoin, after failing to reach the $70,000 region earlier this week, is hovering around $65,000. The correction led to a roughly 6% pullback in Bitcoin’s price.
Bitcoin to test $73,000 “in two weeks”
With Bitcoin returning to the $67,000 level, van de Poppe believes the correction phase has ended. His optimism is based on the start of the macroeconomic season, marked by the release of Purchasing Managers’ Index (PMI) data.
PMI is a key indicator of economic health, and van de Poppe believes that macroeconomic data can support Bitcoin’s recovery.
He points out that he expects Bitcoin to make a new attempt at reaching the peak of $73,000 in March. According to van de Poppe, Bitcoin may approach this level in mid to late November.
Okay.
The dip occurred in Bitcoin.
I think the correction is over as the macroeconomic season kicks off with PMI data today.
Expect ATH testing in the next 2-4 weeks.
pic.twitter.com/gQBfj9ewqu
–Michaël van de Poppe (@CryptoMichNL)
October 24, 2024
This comment has garnered attention within the community, with many agreeing with his viewpoint. One commenter notes that the recent dip cleared out weak hands and states, “With the arrival of the PMI season, it’s time for Bitcoin to prepare for ATH.”
Other market observers disagree
However, not all market observers share van de Poppe’s optimism. User X, Mladen Pavla, points out that Bitcoin’s bull market depends on a weak US dollar. According to him, without a weak dollar, there may not be a significant rebound.
Echoing similar sentiment, commenter Kang expresses doubt whether the correction has indeed ended due to macroeconomic factors such as rising yields. He notes that the potential support zone for Bitcoin is between $64,000 and $62,000, while monitoring the US Dollar Index (DXY) in case of minor pullbacks.
Meanwhile, commenter Dan John expresses impatience with the current market and states that market activity has stagnated after the bull market earlier this year. He points out that altcoins are not exploding in the same way as before and claims that Bitcoin is volatile, with retail interest in cryptocurrencies waning. Despite this, he still hopes for a recovery in the bull market and a return of profits.
However, another investor, Kevin, disagrees with Dan’s view on altcoins, suggesting that Dan may hold the wrong altcoins. He emphasizes examples like SUI and AERO as well-performing projects, even as the broader market remains stable.