Top Crypto Analyst Predicts a Major Bitcoin Breakout Soon
A prominent crypto analyst is forecasting a major Bitcoin (BTC) breakout soon.
Renowned crypto trader Michaël van de Poppe believes that Bitcoin could experience a significant surge if the Federal Reserve begins cutting interest rates later this month.
Van de Poppe suggests that such rate cuts would increase market liquidity, potentially benefiting risk assets like Bitcoin. He also anticipates that investors might flock to Bitcoin as a safe haven amid U.S. economic instability and potential currency devaluation.
He stated, “Bitcoin is poised for a notable rise due to potential rate cuts and quantitative easing. As economic conditions worsen, Bitcoin could become a refuge similar to how gold was viewed in the 1930s—not as an inflation hedge but as protection against U.S. economic failure.”
READ MORE: Bitfinex Predicts Bitcoin Could Drop to $40,000 Amid September Rate Cut Uncertainty
The analyst expects that the upcoming crypto market rally will focus on real-world assets, decentralized physical infrastructure, and decentralized finance rather than on memecoins.
“I believe we’re on the verge of a major market breakout, likely influenced by either upcoming unemployment data or Fed rate cuts. This breakout will be driven by real-world assets, dePIN, and DeFi, rather than memecoins,” he explained.
Van de Poppe also predicts that Bitcoin will lead the economic cycle’s performance until it reaches its market peak. He foresees Bitcoin potentially forming a “blow-off top,” a technical analysis pattern characterized by a rapid price increase followed by a sharp decline.
“The unemployment data and non-farm employment figures are worsening, and the U.S. Dollar is losing strength against other currencies like the Canadian Dollar, Japanese Yen, and Euro. This underscores Bitcoin’s importance as a portfolio asset. It mirrors the role of gold in the 1930s and may mark the peak of this economic cycle,” he concluded.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
