Michal van de Poppe, a renowned cryptocurrency analyst and trader, has expressed his bullish stance on Bitcoin (BTC), foreseeing a potential increase in the value of the primary cryptocurrency. He is well-known for having a sizable YouTube audience and thinks Bitcoin will likely increase by over 30%, hitting a record high of $41,000 in 2023.
In his most recent YouTube video, Van de Poppe emphasizes the significance of Bitcoin creating a clear greater excessive in order to maintain its current upward trajectory. He finds prospective value targets by using the Fibonacci extension gadget, which examines prior corrective actions. He believes there is a chance for Bitcoin to rise towards the $41,000 level based primarily on this assessment.
What Is Bitcoin Worth After That?
He also describes two possible outcomes for Bitcoin’s future course of action.
At this point, Bitcoin reaches its recent highs of over $31,500, which serves as a significant resistance level. After the breakout, Bitcoin can have a small retreat and consolidation phase before starting a new climb. The market can stabilize as a result of this consolidation and potentially gather more bullish momentum.
As an alternative, Bitcoin may consolidate in the near future without surpassing its most recent highs. But following this period of consolidation, Bitcoin may quickly accelerate in the months to come, reaching previous highs like the $42,500 mark.
Considering that Bitcoin is currently trading at $30,737, his analysis points to the possibility of significant price growth for the cryptocurrency.
Based mostly on the analysis of renowned analyst Michal van de Poppe, it is predicted that Bitcoin will rise significantly, with a value target of $41,000. The value forecasts, however, are theoretical and do not guarantee certain results. Before making an investment, traders should exercise caution and take numerous factors into consideration.
