Michaël van de Poppe, a noted crypto analyst, has set a positive tone for the upcoming month, signaling a huge upward breakout.
He is optimistic about Bitcoin’s potential, predicting a price surge to $57K. He believes this level will serve as crucial support, propelling Bitcoin further upwards.
Moreover, he has drawn comparisons to gold, which recently reached new all-time highs, suggesting that Bitcoin is likely to follow a similar trajectory and achieve a new ATH by October.
Are We Heading Towards the Long-Awaited Breakthrough?
Bitcoin to Hit $62K?
In his X post, Van de Poppe anticipates that Bitcoin will undergo a liquidity sweep, followed by a period of consolidation. While September has historically been a weak month for cryptocurrencies, he sees the current setup as an opportunity for Bitcoin to gain its lost charm.
If Bitcoin holds the $57K support level, he predicts a breakout above $62K by the end of September or early October, setting the stage for a bullish run through Q4.
Analysts are increasingly predicting a Bitcoin breakout in October, potentially triggered by the Federal Reserve’s meeting on September 18.
A widely anticipated interest rate cut could act as a catalyst, propelling Bitcoin’s price movement. With Bitcoin currently priced at $58,637, the meeting’s outcome could significantly influence its trajectory.
Global Liquidity Expansion as a Key Driver
A major factor behind van de Poppe’s bullish outlook is the ongoing global liquidity expansion. He believes this increased liquidity will fuel Bitcoin’s upward movement, enabling it to break resistance levels and continue its rise. Adding to this he said, that this liquidity surge will positively impact altcoins, which have been lagging but are poised for recovery.
Critical Levels to Watch
As Bitcoin nears the $60K mark, van de Poppe advises investors to closely monitor key levels. However, this positive outlook is based on the idea that Bitcoin’s critical support level at $57,000 is holding strong, indicating a potential upward surge.
If Bitcoin remain above the $56K-$57K range, it could signal the start of a significant rally, potentially leading to new all-time highs in October.
So, according to van de Poppe, October could see Bitcoin’s price rising significantly. Now all eyes will be on Bitcoin to see if it aligns with van de Poppe’s predictions.
