According To Analyst BTC Will Explode 70% Before “Very Fast” Reversal

Popular cryptocurrency analyst and trader Michaël van de Poppe is changing his Bitcoin (BTC) prognosis.

In a recent video, Van de Poppe warns his 163,000 YouTube viewers that Bitcoin may trade in a range before rising to $40,000.

The prominent cryptocurrency analyst and trader predicts that most Bitcoin investors and traders would finish their holdings in Q2 2023 at $37,000 to $40,000.

“I think that the take profit price will start to take place around $29,000 and most likely $37,000 to $40,000. I think that this entire run, and now we’ve got the sideways period which can just last for a few weeks before you can start running again, this run towards $37,000 to $40,000 is most likely going to take place in Q2.”

Source: Michaël van de Poppe / YouTube

At $22,709, Bitcoin’s $37,000–$40,000 objective would be a 70% rise. Van de Poppe predicts a major trend reversal before the bull cycle and price action begin.

“And then we have another very fast correction taking place before the entire bull cycle starts to take off.”

Comments

Post a Comment

Popular posts from this blog

Bybit seeks crypto license in Hong Kong

Cryptocurrency exchange Bybit has applied for a Virtual Asset Service Provider (VASP) license in Hong Kong, according to regulatory filings. Bybit has joined the list of 14 applicants seeking a license from the Securities and Futures Commission (SFC) to offer services in Hong Kong. According to the regulatory filing submitted on Jan. 31, Bybit wants to offer services in the region through Spark Fintech Limited. The timing and approval status of Bybit’s application by the SFC remains unclear, as other crypto businesses, including OKX, are still awaiting regulatory approval. Thus far, only two companies, OSL Exchange and HashKey Exchange, have received a crypto trading license from the SFC. As of press time, Bybit has not issued any public statements regarding the application. Bybit expressed interest in expanding services in Hong Kong in April 2023, when the Dubai-based crypto exchange outlined plans to establish its central Asian business there. As crypto .news reported, ...
Read more

Insider trader turns $1,000 to $1 million in three hours

Image
The crypto market rally of 2024 has already featured many of the hallmarks of a cryptocurrency bull market, including the release of multiple new coins and tokens, a new all-time high (ATH) for Bitcoin (BTC), and various stories of rapid wealth-building. The most recent of the rags-to-riches stories came late on June 6 when data from Solscan revealed that an insider acquired more than 190 million Hulkmania (HULK) – 19% of the total circulating supply – at the cost of just 7.1 Solana (SOL), worth $1,200 at the time.  The trade enabled them to, within a mere three hours , sell the 190 million HULK for more than 5,760 SOL – worth just under $1 million at the time. Picks for you Haruko to enhance digital asset management with Stacks integration 24 mins ago ...
Read more

BlockFi used customer money to buy $30M insurance, creditors claim

BlockFi said selling its cryptocurrency lending platform might not generate value for creditors. Disgruntled creditors of the bankrupt cryptocurrency lending firm BlockFi have submitted a new court filing in response to the company’s latest restructuring plan. On May 12, BlockFi outlined its Chapter 11 plan of reorganization in a filing with the United States Bankruptcy Court in Trenton, New Jersey. The firm said that selling BlockFi might not generate enough value for creditors as it owes nearly $1.3 billion to its top 50 creditors . In response, BlockFi creditors submitted another court filing on May 15, arguing that BlockFi deliberately took measures to delay the trial. Represented by the law firm Brown Rudnick, BlockFi creditors wrote that BlockFi sold about $240 million worth of crypto before filing for bankruptcy in late November 2022. The creditors emphasized that the crypto lender sold the assets “at the nadir,” referring to a massive market slump following the collapse of F...
Read more