The leading cryptocurrency Bitcoin (BTC) excited investors by reaching as high as $69,500 at the beginning of the week, but then fell to $66,000.
While this decline has raised concerns, popular analyst Michael van de Poppe has claimed that Bitcoin will reach a new all-time high in a few weeks.
Stating that he is optimistic about Bitcoin, Poppe said that he sees the solid decline as a healthy correction.
Sharing his analysis from his X account, the analyst remained bullish on BTC and argued that a new ATH could occur in the next two to four weeks.
This ATH will be supported by favorable macroeconomic conditions, Poppe added.
Stating that apart from Bitcoin, the altcoin named NEAR is also on the rise, Poppe said that the markets are preparing for the next big rise.
Stating that NEAR is a perfect example of this situation, the analyst said that NEAR is slowly climbing upwards and the next target in the rally is $10-15.
There we go.
The dip has happened on #Bitcoin.
I think that the correction is over as today's macroeconomic season is kicking off with PMI data.
Expecting to see the ATH test in the next 2-4 weeks. pic.twitter.com/gQBfj9ewqu
— Michaël van de Poppe (@CryptoMichNL) October 24, 2024
*This is not investment advice.
