Cryptocurrency expert and trader Michaël van de Poppe has made a bold prediction that Bitcoin (BTC/USD) could surge to $80,000 this month. His forecast comes after Bitcoin’s recent performance, including a potential retest of the $71,679 resistance level.
Van de Poppe shared his insights on X (formerly Twitter), stating that Bitcoin is currently consolidating around a new all-time high (ATH) and may experience a minor correction before rallying again. He emphasized that Bitcoin’s dips are likely to be short-lived and presents a strong buying opportunity. In his post, he stated, “#Bitcoin is consolidating around a new ATH. I do believe we’ll continue, but probably have a slight correction first — dips ready to be bought. Next? $80,000 in November.”
Bitcoin’s ETF Inflow and Trump’s Election Victory Drive Market Optimism
One of the key reasons behind van de Poppe’s prediction is the significant influx of investments into Bitcoin exchange-traded funds (ETFs) following the victory of pro-crypto candidate Donald Trump in the US presidential election. According to van de Poppe, Bitcoin ETFs saw a record-breaking $2 billion in inflows since Trump’s win, signaling growing institutional interest. He also pointed out that the Ethereum ETF received over $120 million in investments.
“The bull market is here,” van de Poppe declared on X, adding that the market sentiment is strongly bullish thanks to the political developments and institutional adoption of Bitcoin. As of the latest report, Bitcoin was trading at $75,966, marking a notable 11% increase from its Election Day low of $68,206.
Ethereum (ETH) Also Shows Strong Bullish Momentum
In addition to Bitcoin, van de Poppe remains bullish on Ethereum (ETH/USD), suggesting that Ethereum will continue its upward trajectory, with potential retests of lower price levels offering more buying opportunities. Ethereum is currently priced at $2,920, up more than 21% from its Election Day low of $2,403.
Political Events Impacting Cryptocurrency Market Sentiment
Van de Poppe’s bullish outlook arrives at a time when the cryptocurrency market is reacting positively to recent political events. The significant inflows into Bitcoin ETFs and the resurgence of Bitcoin’s price highlight the growing impact of government and political developments on the crypto market.
While it’s uncertain whether Bitcoin will hit $80,000 this month, current market trends and the strong support for Bitcoin and Ethereum suggest a positive trajectory for the cryptocurrency market.
