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Bitcoin Nears ‘Final Correction’ Phase, Warns Crypto Analyst: Expert Insights

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Renowned Crypto Analyst Michaël van de Poppe Predicts Bitcoin to Explode by Over 70% Before a Very Fast Correction

What Happened:

Renowned crypto analyst Michaël van de Poppe recently shared his insight on the potential trajectory of Bitcoin (BTC/USD) in the coming weeks.

  • In a YouTube video this week, the analyst outlined the possibilities of a “final correction” in the cryptocurrency’s value.
  • He anticipates a dip of about 10% from Bitcoin’s current value, calling it the “final correction.”
  • Van de Poppe perceives this potential downturn as a pivotal moment for long-term Bitcoin enthusiasts to increase their investments in the cryptocurrency.

Potential Market Correction:

Van de Poppe predicted that a market correction could see Bitcoin values plummeting to levels between $23,000 and $24,000, particularly if it descends below the critical threshold of the 200-week exponential moving average (EMA), which presently stands at approximately $24,689.

Upcoming Developments:

As Bitcoin hovers around the $25,000 mark, the analyst brought attention to the forthcoming developments in the crypto space:

  • Announcements on Bitcoin’s spot ETFs (exchange-traded funds)
  • Expected introduction of ETH Futures ETFs in three to four weeks

Bullish Long-Term Prospects:

Despite the potential dip, Van de Poppe remains bullish about Bitcoin’s long-term prospects. He emphasized the growing institutional interest in the crypto market, suggesting a robust future.

“We can expect the markets to have a final correction. But this correction is the final one, which means that if we go to $23,000 or $24,000 when we close beneath the 200-week EMA, I think that’s the final one you want to watch,” he said. “Because with the fact that institutions are jumping into the markets, you should realize the markets are a must-buy opportunity overall for the long term.”

Current Bitcoin Price:

At the time of writing, Bitcoin was trading at $25,896.88, up by one percent in the last seven days.


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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



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