The price of Bitcoin (BTC) faced a rejection around the $69,000 level. Since then, it has dipped toward the $66,000 price range. While some may consider it a bearish move and create FUD on the market, many consider it a healthy price correction. There is still optimism on the market, with many expecting a new Bitcoin price all-time high (ATH).
Prominent analyst Michaël van de Poppe is also bullish on Bitcoin. Earlier today, he gave a bold Bitcoin price prediction, injecting more positivity into the community. The analyst acknowledged that the BTC price has faced a dip. But he believes that the price correction is over. He supported his claim by mentioning that the macroeconomic season is starting with PMI data.
The S&P Global PMI is one of the most important market-moving economic indicators. It covers more than 30 developed and developing economies across the globe. Michaël van de Poppe concluded by saying that he is expecting that Bitcoin will perform an ATH test in the next two to four weeks.
Broader crypto rally
In a previous tweet, the analyst again mentioned the price dip and said that Bitcoin dropped to the 65,000 area before quickly reversing upward. He said that this small correction was close to over. Michaël van de Poppe again highlighted that the macroeconomic period has started, before mentioning that it is time to see yields drop and cryptocurrencies to flourish.
Meanwhile, Bitcoin is currently trading at $66,857, with a slight increase of 0.56% in the last 24 hours. The coin has slightly recovered from recent losses, where it went near the $65,000 range. It appears that a broader recovery is in the cards for BTC, especially considering the 16.34% rise in trading volume today. Overall, analysts are anticipating a new all-time high in the coming weeks.
