Cryptocurrency analyst Michaël van de Poppe has shared his latest predictions for Bitcoin and altcoins as September progresses, hinting at significant market movements in the coming weeks.
Bitcoin Likely to Consolidate, Followed by a Breakout
In his recent commentary, van de Poppe said, “I expect we’ll see a liquidity sweep for Bitcoin followed by some consolidation.” He continues to describe September as a traditionally weak month for the crypto markets and advises caution. However, his outlook becomes more optimistic as he predicts a potential breakout above $62,000 for Bitcoin by the end of September or early October.
Van de Poppe’s forecast implies that Bitcoin may be poised for a bullish movement soon, provided it holds key support levels in the near term. His focus is on the potential for Bitcoin to breach the $60,000 mark, signaling the start of a more aggressive upward trend.
Altcoin Bottom May Be In
Van de Poppe also hinted that the worst may be over for altcoins, stating, “A fair assumption is that the crypto market has bottomed out.” His analysis aligns with his broader view that the cryptocurrency market has likely weathered the most challenging phase of the bull market correction.
This indicates a more positive outlook for investors in altcoins, as they could see a recovery phase in the near future, especially as Bitcoin gains momentum.
Global Liquidity Expansion Fuels Optimism
A key factor driving Van de Poppe’s optimism is the broader global liquidity expansion. He remarked, “Bitcoin is following the plan and has hit the next resistance zone. Returning to $60,000 would be a good sign for the markets.”
He further elaborated that if Bitcoin manages to stay above the $56,000 – $57,000 range, it could trigger a move towards a new all-time high (ATH), possibly as early as October.
Analyst Michaël van de Poppe sees September as a period of consolidation for Bitcoin, with a potential breakout above $62,000 by October. Meanwhile, he believes the worst may be behind for altcoins and that global liquidity expansion will play a crucial role in fueling the next leg of the crypto bull market. Investors are advised to monitor key levels as Bitcoin approaches $60,000 in the coming weeks.
