Michael van de Poppea widely followed cryptocurrency trader, predicts a significant bullish spike for the Bitcoin (CRYPTO: BTC) in the near future, as the leading cryptocurrency once again crossed the $100,000 mark ahead of the president-elect’s inauguration Donald Trump.
What happened : Van de Poppe predicted an upcoming bullish movement for Bitcoin. However, he suggests that altcoins, especially those in the ecosystem Ethereum (CRYPTO: ETH), are likely to outperform Bitcoin.
“It is very likely that we will see further momentum on #Bitcoin in the coming days,” he said.
Factors such as lower yields, a weaker dollar and progressive regulation on cryptocurrencies are propelling the market’s momentum, according to van de Poppe. He also notes that the current cryptocurrency cycle is more “complex” than the previous one, a trend that has continued since the last cycle.
Van de Poppe plans to increase his exposure to altcoins in anticipation of a sharp rise. He said: “At this point: I would like to be exposed to risk as much as possible, because we are literally at the beginning of this uptrend for altcoins.”
See also: Trump plans pro-cryptocurrency executive orders for his first days in the White House: report
Why it matters : The cryptocurrency market is in the midst of a wave of optimism following signals of a pro-cryptocurrency policy shift from the incoming administration under Donald Trump.
Key figures and investors in the cryptocurrency industry have expressed relief at the planned policy change, buoyed by the appointment of pro-cryptocurrency individuals to senior positions, including David Sacks as head of AI and cryptocurrencies, and Paul Atkins as chairman of the SEC.
-These moves, coupled with expectations of executive orders to establish a Bitcoin reserve, are paving the way for a new era for the industry in the United States.
Furthermore, on Thursday, the main cryptocurrencies remained stable, following reports that President-elect Donald Trump could announce several pro-cryptocurrency measures after his swearing in. Bitcoin moved around the $100,000 mark, after brushing close to the psychologically important level, due to weaker inflation indicators.
Price movement At the time of writing, Bitcoin was trading at $102,403, gaining 0.6% over the past 24 hours, according to data from Benzinga Pro.
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Warning : Some of this content was produced using AI tools and then reviewed and published by Benzinga editors.
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