CandleFocus Next Bitcoin ATH: Here's Key Condition for Reaching It – Top Analyst
2024-10-31
Author: Content Editor
Cryptocurrency analyst and trader Michael van de Poppe believes that Bitcoin is currently consolidating before moving towards new all-time highs. He identifies the key level for Bitcoin to hold as $70,000. Van de Poppe predicts that Bitcoin will reach $80,000 in November and then jump to $90,000-$100,000 in December. Bitcoin recently saw a 7% price increase, reaching $73,220 before experiencing a minor loss. The recent price surge has been attributed to record-breaking Bitcoin ETF inflows and monetary loosening measures. BlackRock's IBIT saw a massive inflow of $872 million in a single day, setting a new record for the highest single-day inflow in the fund's history. Other ETFs saw smaller inflows, while Bitwise ETF experienced a significant outflow.
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