Analyst Says Bitcoin Could Reach $100K in 1-2 Weeks, Ethereum Set to Outperform
Bitcoin’s price has recently bounced from a critical support level at a retracement position of 78.6%, which has been a focus over the past few days. Prices form local lows and try to move to upward space. However, bullish rally is still in its early stages and the momentum seems too small to be considered a strong trend.
Now, Bitcoin failed to break The previous swing high from February 3 is about $96,700. To make the bulls show strength, it is crucial to make breakthroughs above this level. While such actions may be a sign of what is about to happen, the price action is not strong enough to confirm a significant low.
If the price fails to break the high on February 3, Bitcoin may see a pullback, which may form a formal structure for correction. The main focus now is whether Bitcoin can surpass local highs to confirm a new bullish trend. As long as the price stays at the high point on February 3, Bitcoin will maintain a certain range and the market will continue to face downward pressure.
Crypto analyst Michael van de Poppe has positive prospects for Bitcoin and Ethereum in the coming weeks. He believes that Bitcoin can reach $10,000 in 1-2 weeks, and the current merger phase provides investors with a good entry point. As Bitcoin remains at a lower level, Van de Poppe sees it as an opportunity for a potential breakthrough.
Van de Poppe is particularly optimistic about Ethereum, saying ETH has begun to surpass Bitcoin, which has rarely happened in recent years. He predicts that Ethereum will soon trade over 0.03 BTC and sees it as a sign of increasing momentum. Despite the negative sentiment and high volatility in the altcoin market, Van de Poppe encourages those holding utility alternatives tokens to stay patient because better times are at the forefront.
