While Bitcoin, the leading cryptocurrency, has risen above $ 70,000 with its recent rise, it is moving horizontally here.
Despite the horizontal movements in BTC, investors' upward expectations continue, while popular analyst Michael van de Poppe shared his expectations for BTC and altcoins.
Stating that we are close to a local peak in Bitcoin and that he expects ATH renewal between $ 75,000-80,000 before the halving, the analyst claimed that BTC will correct after the halving.
Poppe added that he expects altcoins to perform better as Bitcoin corrects.
“Consolidation in Bitcoin continues.
I think we are near the top of this run in Bitcoin. However, I think we will have another ATH test of maybe $75,000-80,000 before the halving.
Then BTC will correct.
“I expect altcoins to perform better during the consolidation and correction phase in Bitcoin.”
*This is not investment advice.