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.
Sources:
Related Articles:
- Analyst Who Predicted May 2021 Crypto Crash Now Says Bitcoin Set To Surge To This Price By 2024
- This Crypto Analyst Confident About Bitcoin’s Surge, But There’s A Catch
Disclaimer:
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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