A prominent cryptocurrency analyst is adopting a bullish stance on Bitcoin (BTC) as the leading digital currency hovers around the $70,000 mark. In a recent strategy discussion, trader Michaël van de Poppe shared with his 734,900 followers on the social media platform X that he anticipates Bitcoin could experience a price increase ranging from 10% to 38% by the end of the year.

“It’s been less than two to four weeks, and we’re nearing Bitcoin’s all-time high. So, what’s next? I believe we could reach $80,000 in November, and potentially $90,000 to $100,000 in December,” he stated.

Currently, Bitcoin is trading at $70,258, which is approximately 4.7% below its peak of $73,800 achieved in the first quarter of this year. Van de Poppe emphasizes that the leading cryptocurrency by market capitalization is consolidating before making a move toward new all-time highs. “As long as we remain above $70,000, it’s party time,” he added.

Source: Michaël van de Poppe/X

In addition, van de Poppe provided his outlook for Ethereum (ETH). He predicts that Ethereum might see an increase of over 13% in November, especially after a support level around $2,300 has held. “Ethereum absorbed the liquidity and surged back to resistance. I believe we’ll break through that in the next week or two and see prices exceeding $3,000 in November,” he remarked.

Source: Michaël van de Poppe/X

At the time of writing, Ethereum is priced at $2,522, reflecting a 5% decline in the last 24 hours. When discussing the Ethereum/Bitcoin pair (ETH/BTC), the trader mentioned that a bearish divergence on the daily chart could be significant. A bearish divergence occurs when an indicator, like the Relative Strength Index, shows higher lows while the price posts lower lows.

Van de Poppe cautioned that if ETH/BTC continues to decline, it could drop approximately 15% from its current value to around 0.031 BTC.

Source: Michaël van de Poppe/X

ETH/BTC is presently valued at 0.0359 BTC.

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