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The Bitcoin price rise is continuing ahead of Coinbase listing. The BTC was seen trading at $64,480, an all-time high and more than $4,000 higher than yesterday’s peak.
Popular crypto trader and market analyst Michaël van de Poppe is optimistic and bullish about Bitcoin and Ethereum amidst the recent news that cryptocurrency market capitalization achieved an all-time high peak of $2 trillion.
Bitcoin (BTC) Price Forecast
Via a series of tweets he assumes Bitcoin will continue to rise towards new all-time highs as long as it can stay above the $61,000 mark.
He says that Above that grey zone (roughly $61,000), Bitcoin is perfect. For the time being, that’s the deal breaker. And If that holds, He expects the upward trend to continue for the largest cryptocurrency.
The price of bitcoin has risen as investors anticipate Coinbase’s upcoming direct listing. The company has opted for a direct listing rather than an IPO. It chose a direct listing, which is known for its cost-effectiveness and the ability of current shareholders to sell their shares immediately.
Van de Poppe predicted that Bitcoin would correct after the initial public offering (IPO) of Coinbase died down, but the flagship cryptocurrency has managed to stay above the crucial level depicted in the chart.
He also warns that If BTC loses the grey area and hits it’s next level of support at $58,000, he predicts a harsh short-term Bitcoin correction that will pull the rest of the market down with it.
There is not much support beneath us until $58,000 and I can assure you that once we are breaking down to $58,000, we are going to have a very very harsh correction on altcoins as well.
Ethereum (ETH) Price Forecast
As for Ethereum, he thinks that it will still continue it’s bull run and target new all time highs. If it follows his expected trajectory, ETH will hit $4,000 or higher this summer.
As of writing ETH is trading at $2,439.50.