Cryptocurrency expert predicts record growth of bitcoin by the end of the year

Crypto analyst Michael van de Poppe predicts that Bitcoin BTC $90,383.35 Bitcoin -0.86% Market capitalization $1.79 trillion VOL. 24 hours $1.97 billion could reach a six-figure price by December 2024. According to his estimates, if BTC maintains support at $ 70,000, its price will grow by 10−38%, reaching $ 80,000 in November and $ 90,000 or even $ 100,000 by the end of the year.

Currently, the price of BTC is sinking to $ 69,360 per coin, a 4% daily regression.

The expert noted that BTC is currently consolidating, preparing for a new record growth, and if it stays above the key level of $ 70,000, investors can expect further growth. At the same time, he foresees positive dynamics for Ethereum (ETH), which could rise to $ 3,000 if the support at $ 2,300 remains stable.

For the ETH/BTC pair, van de Poppe expects a potential decline of 15%, provided that the bearish divergence persists, which could bring ETH/BTC down to 0.031 BTC from the current 0.0359 BTC.

Earlier, De Poppe predicted that the flagship of the crypto market was caught in a «perfect storm,» which could lead to a significant increase in its rate. According to the expert’s preliminary forecasts, by the end of 2024, bitcoin could reach $ 192,000, and in 2025 — even $ 600,000. This rapid growth is due to the weakening labor market in the United States and the growing distrust of traditional financial institutions.