By Solomon Odunayo
Crypto trader and analyst, Michaël van de Poppe, popularly known as Crypto Michael in the industry, has recently outlined his price predictions for the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), for the current bull cycle.
In a tweet a few days ago, Crypto Michael said it’s difficult to predict the price of Bitcoin (BTC) in the short-term due to the influence of unforeseen market factors, such as the recent endorsement of the flagship cryptocurrency by the Tesla CEO, Elon Musk.
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However, the top trader predicted that Bitcoin (BTC) would continue to consolidate ahead of a new parabolic movement.
Where does #Bitcoin go from here?
Short term -> it's hard.
Many outliers and variables, like #ElonMusk yesterday, could move the price substantially.
Overall, I still expect more consolidation to occur before a new impulse move can start to happen.
— Michaël van de Poppe (@CryptoMichNL) January 30, 2021
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Crypto Michael ultimately predicted the price would retest $40,000 and a new all-time high, before topping in the cycle at $300,000 or more.
#Bitcoin is doing well as we broke the $35,000 area and flipped it for support.
Next stop is breaking that $37,500-38,000 area and holding $35,000 after which $40,500 and a renewed ATH test is next. pic.twitter.com/mdJBfTIUwE
— Michaël van de Poppe (@CryptoMichNL) February 3, 2021
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Van de Poppe was bullish on the outlook for Ethereum (ETH) during the current market cycle, predicting its price increase could rival Bitcoin in terms of percentage gains.
Peak high predictions for this bull cycle revised:#Bitcoin to $350,000-450,000#Ethereum to $10,000-17,500#Polkadot to $250-350#Chainlink to $250-350#Cardano to $10-20#Zilliqa to $5-7#Elrond to $500-750#DIA to $50-75
— Michaël van de Poppe (@CryptoMichNL) January 30, 2021
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The crypto strategist predicted the price of ETH would pump following a listing on CME Futures. He also said he hoped the market would undergo a correction of 40% before either Bitcoin or Ethereum rally to their cycle tops.
Well, I think #Ethereum goes to $10,000-17,500 in this cycle.
But then you have @Bitboy_Crypto who says it goes to $100,000.
I hope the market corrects 40% before we continue.
— Michaël van de Poppe (@CryptoMichNL) February 3, 2021
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