Yesterday, the popular cryptocurrency dealer and analyst Michael van de Poppe posted his most recent technical analysis for Bitcoin (BTC). In the video, he made a forecast that BTC may breakout swiftly and possibly reach a high of $44K in the next weeks.
After filing their applications for a BTC Trade Traded Fund (ETF), Black Rock and several other major fund managers provided Van de Poppe with their opinions. According to the analyst, if these files are successful, the value of BTC might increase.
In addition to being positive about Bitcoin, van de Poppe stated in his analysis that now is a good time to accumulate alternative currencies because the BTC halving is roughly 10 months away. He predicted that the global market valuation for cryptocurrencies will rise over the next weeks and might reach as high as $2.1 trillion if it can overcome the crucial $1.6 trillion resistance level.
\According to van de Poppe, the market leader will make a sizable transfer in response to this increase in the value of the global cryptocurrency market. However, the expert thinks there will be a stabilization period for BTC over the next few weeks before to the probable breakout in its value. After that, he predicted that the cryptocurrency’s value would soar to an outrageous $44K.
After this movement in the direction of $44K, there will be a corrective made to the market leader’s value major up until the halving event. Van de Poppe stated that this adjustment might occur in the third quarter or this year’s autumn.
According to CoinMarketCap, BTC was trading above $30K at the time of publication, at $30,633.46. That comes after the primary cryptocurrency saw a 24 hour gain of 2.17%. The most recent acquisition increased Bitcoin’s already-positive weekly performance, bringing it to +15.21%.
The overall crypto market cap also increased during the past day in the meantime. At the time of publication, the total was up 1.55% and was approximately $1.19 trillion as a result.
