Miael Van De Poppe: BTC will reach an all-time high in October

Famous crypto analyst Michael van de Poppe predicts that Bitcoin BTC $65,438.70 Bitcoin -0.36% Market capitalization $1.29 trillion VOL. 24 hours $0.6 billion could reach new historical highs in October if it manages to keep the support level above $ 58,500. He believes that in the event of a successful breakout, the BTC price could rise by more than 19% from its current value.

The analyst also notes that the Federal Reserve’s recent 50 basis point cut in interest rates could spur rapid growth in bitcoin. According to his forecast, this could push the price to $ 65,000 to $ 68,000.

«The question remains open: When will ETH turn up? I don’t know what will be the trigger. However, I think that 0.04−0.041 BTC is the breakout area. If it is broken, we will be in good territory. So far, it's not very good,» De Poppe said.

At the time of writing, the price of Bitcoin is $ 62,061, which means a 3.9% gain over the past 24 hours. Analysts are also paying attention to the situation with Ethereum ETH $2,674.04 Bridged Ether (StarkGate) -1.19% Market capitalization $0.2 billion VOL. 24 hours $0.36 billion , which needs to break through a key resistance level to support Bitcoin.