Bitcoin Poised To Reach $500K Long-Term As 'Bullish Sentiment Is Great,' Says Michael Van De Poppe, But Warns 'Corrections Will Happen'
Portfolio Pulse from Mehab Qureshi
Analyst Michael van de Poppe predicts a long-term bullish sentiment for Bitcoin, suggesting it could reach $500K, but warns of potential corrections. He advises buying on corrections of 20% or more. Van de Poppe also sees a strong continuation for Ethereum. Galaxy Digital's CEO, Mike Novogratz, shares a bullish outlook, expecting Bitcoin to end the year much higher, especially if the Federal Reserve cuts rates.
February 22, 2024 | 9:02 am
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POSITIVE IMPACT
Bitcoin is predicted to potentially reach $500K long-term with advice to buy on 20% corrections. Current trading around $51,616.
Van de Poppe's bullish long-term prediction for Bitcoin reaching $500K, coupled with advice to buy on significant corrections, suggests a positive outlook for BTCUSD. The current trading price provides a baseline for potential growth.
CONFIDENCE 80
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
Ethereum is expected to see a strong continuation according to van de Poppe.
Van de Poppe's expectation of a strong continuation for Ethereum, alongside his bullish outlook on the crypto market, indicates a positive short-term impact for ETHUSD.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 90