The post ‘Bitcoin Surge Is Close’: Crypto Analyst Michaël van de Poppe Says BTC Primed for a Massive Rally – Here’s Why appeared on BitcoinEthereumNews.com.

A widely followed crypto analyst is predicting Bitcoin (BTC) is nearing a massive breakout. Crypto trader Michaël van de Poppe tells his 724,100 followers on the social media platform X that BTC could soon soar if the Fed starts its rate-cutting process later this month. The analyst suggests that the rate cutting would inject more liquidity into the market, which could give risk assets like Bitcoin a boost. He also believes investors will pour into the flagship digital asset as a safe haven against US economic uncertainty and currency debasement. “Bitcoin is going to surge significantly from the rate cut policy and the likelihood of QE (quantitative easing). The worse the economic data, the heavier the impact will be on Bitcoin’s interest, as Bitcoin is going to serve as the safe haven that Gold was in the 1930s – not as a hedge against inflation but as a hedge against the uncertainty of a failure of the U.S.” The analyst predicts that the next crypto market breakout will not be dominated by memecoins. “I suspect we’re on the edge of a potential massive breakout of the markets after either the unemployment data or the rate cuts from the FED later this month. I also believe that we’re going to see an all-around crypto cycle where RWA (real-world assets), dePIN (decentralized physical infrastructure network) and DeFi (decentralized finance) are going to be the backbones of the actual adoption cycle. Not memecoins.” The analyst also believes that Bitcoin will be the top-performing asset moving forward in the economic cycle until reaching its market cycle peak. He predicts Bitcoin will form a blow-off top, which in technical analysis is a chart pattern showing a sudden rise in price that is followed by a sharp decline. “Unemployment data is still coming up, and non-farm…

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Filed under: News - @ September 7, 2024 9:17 am