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Founder of MN Trading Capital: Bitcoin can return to $100k without a new narrative
Deep Tide TechFlow News, May 2nd, according to Cointelegraph reports, MN Trading Capital founder Michael van de Poppe posted on the X platform stating that Bitcoin does not need a new narrative or catalyst to return to the $100k psychological threshold. He pointed out that “price increases, narratives will generate themselves,” believing that the current level remains a good accumulation zone.
van de Poppe also noted that recent market attention has shifted to technology sectors such as AI. As of Friday’s close, Nvidia (NVDA) stock has risen 5.08% year-to-date, while Bitcoin has fallen about 10% over the same period. The last time Bitcoin surpassed $100k was on November 13th last year, it fell to an intra-year low of $60k in February, and at press time, it was $78,250, up 14.49% over the past 30 days.
Senior trader Peter Blandt previously told Cointelegraph that the Clarity Act is a positive development for the industry but is unlikely to be the main catalyst for a significant rise in Bitcoin prices. Coinbase Chief Legal Officer Faryar Shirzad said on Friday that after the new stablecoin yield terms were announced, the Clarity Act “is finally time” to be finalized. Additionally, White House crypto advisor Patrick Witt stated this week at the Las Vegas Bitcoin Conference that a “major announcement” regarding the Trump administration’s Bitcoin reserves will be made within weeks.