Bitcoin

<div class="dailyhodl">
 A widely followed crypto analyst says Bitcoin (BTC) is busy accumulating for another breakout.
 Crypto trader Michaël van de Poppe&nbsp;tells&nbsp;his 711,500 followers on the social media platform X that gold and BTC are on their way to new all-time highs (ATHs).
 <div class="code-block code-block-055f5289fd7e731bb72be7c5a19d18ed code-block-1">  
 </div>
 “Bitcoin looks like it wants to build up before another breakout.
 Gold continues the rally towards new ATHs as well.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GK8o6VLWsAA6UXN?format=jpg&amp;name=4096x4096" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Michaël van de Poppe/X
 </figcaption>
 </figure>
 BTC is worth $69,383 at time of writing, up 1.6% in the last week.
 Looking at Polkadot (DOT) trading against BTC, Van de Poppe&nbsp;says&nbsp;he will be adding the interoperability chain to his portfolio soon.
 “There we go, DOT reached a cycle low on the BTC valuation due to the strength of Bitcoin.
 Rotation is near, fundamental progress is there, I’m glad to be adding this to my personal portfolio.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GK3aaO8XAAAkUAd?format=png&amp;name=large" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Michaël van de Poppe/X
 </figcaption>
 </figure>
 DOT is worth $8.14 (0.00012 BTC) at time of writing, down 2.3% in the last seven days.
 Finally, Van de Poppe looks at Synthetix (SNX), a decentralized finance (DeFi) crypto that allows synthetic asset creation on Ethereum (ETH). According to the&nbsp;analyst, SNX has little to no momentum right now when trading against BTC.
 “Downwards momentum and continuation here, through which a break back above 6000 satoshis would mean that there’s a lot of strength involved.
 Not too much momentum here, firstly ETH needs to rotate and then these will return too.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GK3bEFAXoAAPHGc?format=png&amp;name=large" alt="" width="1063" height="499">
 <figcaption id="caption-attachment-190710" class="wp-caption-text">
 Source: Michaël van de Poppe/X
 </figcaption>
 </figure>
 SNX is worth $3.69 (0.000053 BTC) at time of writing, down 4.2% on the day.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-predicts-bitcoin-build-up-before-breakout-updates-outlook-on-two-altcoins-tbt85236.html">https://thebittimes.com/crypto-analyst-predicts-bitcoin-build-up-before-breakout-updates-outlook-on-two-altcoins-tbt85236.html</a>

Crypto Analyst Predicts Bitcoin Build-Up Before Breakout, Updates Outlook on Two Altcoins

TheBitTimes

Other articles published on Apr 12, 2024

Samsung Signals AI Expansion to Galaxy S22 Series

Court Denies US SEC Disgorgement Powers In Govil Verdict: Ripple CLO

PEPE chart hints bullish rally ahead of Bitcoin halving

Solana (SOL) Price Rally Over? What The Fundamentals Say

Bitcoin Value Nears $69K Amid Unsettled Gold Market Uptick

Shiba Inu Faces Critical Test at 56 Trillion SHIB Level

Join our free newsletter for daily crypto updates!