Summary
- Renowned cryptocurrency expert Michael van de Poppe predicts that Bitcoin may surge to $40,000 by June 2023.
- Bitcoin is currently trading at $22,726 and has a market capitalization of $438.2 billion.
- Technical analysis reveals rising selling pressure potentially leading to a new low of $22,050 in the near future.
Michael van de Poppe Predicts Bitcoin Price To Surge More Than 50% – Here’s The Timeline
Bitcoin At $40k? Here’s How:
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. 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.
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Potential Increase In Value
Breaking Through The Resistance Level:
Michael van de Poppe believes that breaking through the resistance level of $23,200 would drive Bitcoin to surge toward its next immediate resistance level of $25,000. He acknowledges that it may experience a drop to extract liquidity but also sees this as offering an opportunity for buying.
Currently, Bitcoin has a trading volume of $40.7 billion and has experienced a 2% decrease in value over the past 24 hours.
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Technical Analysis
< p >< strong >Market Capitalization: < / p >< p > With a market capitalization of $438 . 2 billion , it retains its position as number one cryptocurrency . If Bitcoin ’s price fall below its current level , it may experience further decline to estimated target of 22 , 100 supported by ascending trendline . The technical analysis reveals rising selling pressure as indicated by RSI and MACD indicators potentially lead new low 22 , 050 near future . 50 – day exponential moving average suggests bitcoin may face resistance near 23 , 250 despite overall bullish trend . If surpass this level possible reach high 23 , 500 indicating potential increase value .< h2 >Conclusion : < p >It remains be seen direction bitcoin will take . With right combination factors can achieve long – term success & profitable investment portfolio using bitcoin price movements opportunities on offer within space . Investors must continue do due diligence make sure they understand risks associated before investing any form digital currency or asset class including crypto assets such as bitcoin .