Analyst Michaël van de Poppe says Bitcoin’s bear phase has ended, pointing to a series of higher lows and strengthening technical structure across multiple timeframes.
Van de Poppe argues that BTC is consistently printing higher lows, signaling sustained upside momentum for Bitcoin.
“The upside on commodities is done. The bear phase for Bitcoin is also done. Good times are ahead…
The fact is that we’ve been establishing this range for quite some time. However, with this build-up, I think that we’ll see $75,000-80,000 in March.”
Van de Poppe also points to the BTC versus gold chart as further confirmation.
BTC vs. Gold has hit its bottom. The simple reason for that is a technical one. Has nothing to do with any of the geopolitical situations. Just technical. There’s a strong bullish divergence on the daily and weekly timeframes.”
He also believes the market shock from the US and Israel’s attack on Iran has already largely passed.
Obviously, yes, we can get a ground war in Iran, but the largest shock impact has taken place.
Be rational; there’s a lot of rumours on ‘what might happen’ after this and those are all fear-driven. Reality isn’t probably going to be that bad. Fear sells during these periods.
As a matter of fact, I think that we’ll see more sell-offs taking place from smart people in Gold and Silver and rotation towards equities and Bitcoin.”
At time of writing, Bitcoin is trading at $68,291, down 3.7% in the last 24 hours.
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