The discussion about Bitcoin’s future price has gained momentum as the crypto-market prepares for the April 2024 halving of Bitcoin (BTC). Particularly, Michaël van de Poppe, a well-regarded figure in the crypto analysis domain, has shared This is his most recent analysis of Bitcoin.
The Next Stop is $80,000
Van de Poppe, in a shared post on X suggests that Bitcoin could be on the verge of a significant rise. He is aiming for a range between $75,000 and $80,000 as a result of the halving.
The current phase of consolidation for Bitcoin indicates a potential buildup towards testing the all-time highest with a possible correction.
#Bitcoin consolidating.
We’re nearing the end of this current run. I believe we will have to go through another ATH, maybe even $75-80K before halving, and we can then correct.
During the correction / consolidation phase I anticipate altcoins outperforming. pic.twitter.com/bnQjYuIzrr
— Michaël van de Poppe (@CryptoMichNL) March 27, 2024
The Bitcoin halves play a key role in the scenario. They are a major event which has historically influenced Bitcoin. market dynamics.
Half of the mining reward will occur on April 20, 2024. The new BTC created by the halving is expected to reduce the number of new BTC entering the marketplace.
The event that occurs approximately every four-years is predicted to cause scarcity. This could push demand and price up higher than the past pattern has suggested.
Bullish On Bitcoin
Other analysts, in addition to Van de Poppe’s prediction, have also expressed their optimism regarding Bitcoin’s price potential. Jelle, an esteemed cryptocurrency analyst, believes Bitcoin’s price will rise. poised for a significant leap, potentially breaching the $100,000 mark sooner It was better than anticipated
The bullish outlook is shared by Doctor Profit who emphasizes the importance of analyzing Bitcoin’s recent market behaviour, as well as its sideways movements. He sees the current movement as a stage of accumulation, which will lead to a rise beyond $80,000 and aiming at $100,000.
#Bitcoin – What’s Next?
What you should know about The Sunday big report
🚩 In the Sunday Report last week, we talked about an expected sideways movement over a larger timeframe. As observed, Bitcoin is perfectly moving in this sideways region as… pic.twitter.com/BhE5Weycxv
— Doctor Profit 🇨🇭 (@DrProfitCrypto) March 24, 2024
In this context, the significance of accumulation cannot be understated. Recently, reported by NewsBTCThe number of Bitcoin addresses with at least 1000 BTC has increased, indicating that large institutions and investors have begun to prepare for possible future events.
Bitcoin’s price has fallen by almost 2% in the last 24 hours, even though it has accumulated. below $70,000.
Featured Image from Unsplash. Chart by Tradingview
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Source: www.newsbtc.com