Following the FED's decision to keep interest rates constant, famous cryptocurrency analyst Michaël van de Poppe shared his views on the current state of the cryptocurrency market.
Following the dovish stance of the Federal Open Market Committee (FOMC) and the expectation of an interest rate cut, van de Poppe stated that a risk-off approach towards Bitcoin was noted before the FOMC announcement. However, he believes the Bitcoin trend will continue upwards and $47,000 to $50,000 is a target before this spot ETF rally.
Van de Poppe also predicts that Ethereum will gain momentum in the coming months, drawing a bullish outlook for the second-largest cryptocurrency by market cap.
In addition to Van de Poppe's analysis, another analyst Ali Martinez also shared his views on Binance Coin (BNB). According to Martinez, BNB may be forming a Head-and-Shoulders formation. A sustained close above the neckline at $261 could ignite a bullish breakout and potentially push BNB towards $310.
*This is not investment advice.
