According to seasoned crypto trader Michaël van de Poppe, Bitcoin is close to reclaiming its all-time high, which might happen soon.
Current Analysis of Bitcoin
The analyst notes that Bitcoin is in an upward trend. While there is a possibility of brief sideways movement, the overall trend remains bullish. Van de Poppe identifies the level of $108,900 as significant resistance that must be overcome for a new record.
Market Predictions and Expectations
Forecasts suggest that if the current trend continues, the market may push past the established resistance in the coming weeks. Van de Poppe anticipates that a new all-time high could be reached as early as July.
Impact on Altcoins
The analyst also points to the potential influence of Bitcoin reaching a new high on the altcoin market. In his view, many altcoins may begin to rally if Bitcoin triggers widespread short squeezes, which can lead to rapid price increases across the altcoin space.
Thus, if Bitcoin does reach a new all-time high, it may not only significantly boost the digital asset itself but also improve conditions in the altcoin market.
