Popular crypto trader and analyst Michaël van de Poppe says bitcoin is poised to make a run to a new all-time high of $40,000.
In a tweet published December 26, Poppe said bitcoin had approached his second Fibonacci point of interest established at $25,800. According to the analyst, bitcoin is poised to undergo another ‘impulse move’ which could take the asset to $40,000 or higher.
In a subsequent tweet, the trader pointed out that bitcoin’s current bull run is different from the end of 2017, when crypto prices crashed following BTC’s ATH of $19,700. Van de Poppe explained that bitcoin has managed to trade above $26,000 despite retail hype being ‘not even close’ to levels experienced in 2017.
However, the analyst warned followers that vertical moves ‘often end in a swift correction,’ leading to the establishment of sideways trading. He predicted bitcoin’s bull market to last for a longer period and urged followers to have a ‘longer horizon.’
Van de Poppe also said some altcoins were beginning to wake up to the bull market created by bitcoin and provide a ‘significant opportunity’ for investors.
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