The post Michael van de Poppe Predicts Bitcoin Price To Surge More Than 50% – Here’s The Timeline appeared first on Coinpedia Fintech News
With Bitcoin currently trading above a crucial level, renowned cryptocurrency expert Michael van de Poppe has reemphasized his prediction of an imminent massive surge for the cryptocurrency.
Bitcoin At $40k? Here’s How.
As of writing, Bitcoin is trading at $22,726, below the resistance level of $23,200 identified by van de Poppe. Despite anticipating a potential pullback to $21,700, he acknowledges that the increased trading activity in Bitcoin signals a growing momentum in favor of bulls. This suggests that the leading cryptocurrency may experience a dramatic rise to reach $40,000 by June 2023.
Michael van de Poppe, the expert, predicts that breaking through the $23,200 level would drive Bitcoin to surge toward the next immediate resistance level of $25,000. Although he acknowledges the potential for a drop to extract liquidity, he believes this could provide a favorable buying opportunity.
Currently, Bitcoin has a trading volume of $40.7 billion and has experienced a 2% decrease in value over the past 24 hours.
With a market capitalization of $438.2 billion, it retains its position as the number one cryptocurrency.
If Bitcoin’s price fall below its current level, it may experience a further decline to the estimated target of $22,100, supported by an ascending trendline. The technical analysis reveals rising selling pressure, as indicated by the RSI and MACD indicators, potentially leading to a new low of $22,050 in the near future.
The 50-day exponential moving average suggests that Bitcoin may face resistance near $23,250, despite the overall bullish trend. If it surpasses this level, it may reach as high as $23,500, indicating a potential increase in value. It remains to be seen which direction Bitcoin will take.