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Analyst Says Bitcoin Could Reach $100K in 1-2 Weeks, Ethereum Set to Outperform

Published by
Anjali Belgaumkar

Bitcoin’s price has recently bounced from a key support level, located just below the 78.6% retracement, which has been a focal point in the last few days. The price formed a local low and attempted a move to the upside. However, the bullish rally is still in its early stages, and the momentum seems too small to be considered a strong trend just yet.

Currently, Bitcoin has failed to break the previous swing high from February 3rd, which is around $96,700. For the bulls to show strength, a break above this level is essential. While this move up could be a sign of things to come, the price action is not yet strong enough to confirm a substantial low.

If the price fails to break the February 3rd high, Bitcoin could see a pullback, possibly forming a corrective structure. A major focus now is whether Bitcoin can break above the local high to confirm a new bullish trend. As long as the price stays below the February 3rd high, Bitcoin will remain in a range, and the market will continue to face downside pressure.

Crypto analyst Michael van de Poppe has a positive outlook for Bitcoin and Ethereum in the coming weeks. He believes Bitcoin could reach $100K within 1-2 weeks, with the current consolidation phase offering a great entry point for investors. As Bitcoin holds at lower levels, van de Poppe sees it as a chance for a potential breakout.

For Ethereum, van de Poppe is particularly optimistic, saying that ETH has started to outperform Bitcoin, a rare occurrence in recent years. He predicts Ethereum will trade above 0.03 BTC soon and sees this as a sign of increasing momentum. Despite negative sentiment and high volatility in the altcoin market, van de Poppe encourages those holding utility-based altcoins to stay patient, as better times are ahead.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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