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Analyst Cites Favorable Market Trends That Could See Bitcoin Touch $300,000 This Cycle

Amid the renewed strength recently displayed by Bitcoin, Michael Van De Poppe, a recognized cryptocurrency analyst and trader has offered an intriguing prediction for BTC, highlighting that the crypto asset is likely to reach the $300,000 threshold in this bull cycle.

Bitcoin Price Targetted At Unprecedented Heights This Cycle

Over the past month, the price of Bitcoin has been consolidating and hasn’t been able to sustain its rise beyond its new peak of $73,000. However, things could soon be changing, as Michael Van De Poppe expects the coin to surge immensely in the short term.

His forecast coincides with anticipation around the upcoming Bitcoin Halving expected to take place in less than 12 days, fueling optimism within the crypto community.

According to the expert, the largest cryptocurrency asset by market cap is still experiencing significant resistance. Nonetheless, if Bitcoin manages to break out of this zone, the coin could witness a progression towards new all-time highs in the coming months.

Bitcoin

Given that BTC achieved the $70,000 price level ahead of the halving event, Poppe believes that it is likely to surge to unprecedented levels, particularly topping out at $300,000 in this bull run.

The post read:

Bitcoin still facing crucial resistance. If this breaks, then we will be seeing a continuation towards new all-time highs. Bitcoin at $70,000 pre-halving. Likely $300,000 this cycle.

Poppe underscored that the price of Bitcoin returned to $70,000 level over the weekend. As a result, he has pointed out bullish indicators that are presently occurring in the crypto landscape.

The analyst also noted that the strength of the cryptocurrency markets has now exceeded our perceptions, and dips in altcoins represent opportunities for good entries. In addition, BTC’s price action demonstrates the potential to reach a new all-time high pre-halving, and the shift in favor of altcoins is on the horizon.

Altcoin Season Set To Kick Off In Weeks

Poppe is super bullish toward an ‘altcoin season’. However, it is important to note that altcoins’ value has frequently coincided with shifts in Bitcoin’s supremacy. But even though Bitcoin’s dominance is still at its peak prior to the halving, Poppe thinks these coins still have a lot of momentum.

He advocates that a new altcoin season will undoubtedly begin in the upcoming weeks. “We always have one, we have seen Meme coins, Solana (SOL) ecosystem, and AI,” he stated.

The expert’s statement suggests that the Solana ecosystem, AI projects, and meme coins in recent months have led the altcoin market. Thus, Michael Van De Poppe has contended that in the impending alt season, crypto initiatives that prioritize the tokenization of Real-World Assets (RWA), the Ethereum (ETH) ecosystem, and the Decentralized Physical Infrastructure Network (DePIN) are likely to be next, paving the way for alts this cycle.

At the time of writing, the altcoin’s overall market excluding Bitcoin and Ethereum was valued at $753.47 billion. This indicates a 2% increase in the market cap in the past 24 hours.

Bitcoin

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Bitcoin Final Dance: Analyst Eyes Final Peak Ahead Of Halving

Once again, there is hope for Bitcoin (BTC) as Michael Van De Poppe, a cryptocurrency expert, has spotlighted the potential for the crypto asset’s price to reach a new all-time high before the highly anticipated Halving event commences.

One Final All-Time High For Bitcoin Before Halving

The price of Bitcoin is presently exhibiting new bearish activity, which might trigger negative sentiments in the market over the next few days. Despite the notable decline, Michael Van De Poppe is optimistic that BTC will attain a new height prior to Bitcoin Halving expected to occur this month’s end.

According to the analyst, the digital asset is currently in a consolidation zone. He further identified two distinct crucial levels within the lower timeframes such as the $67,000 threshold as a support level and the $71,700 mark as a final break out towards the peak.

It is worth noting that Michael Van De Poppe previously forecasted that Tuesday is probably when the real moves are expected to begin as Bitcoin consolidates. Thus, if the coin holds the $67,000 level, he will propose a one-last peak test ahead of the halving.

Bitcoin

Poppe seems to be confident about his prediction now as he asserts that if one of the two aforementioned crucial levels develops, it will determine the direction of Bitcoin. Due to this, he believes BTC will experience one final pre-halving all-time high.

The post read:

Bitcoin is calmly consolidating. Crucial levels (lower timeframes): $67,000 to hold for support, $71,700 for a final breakout towards the ATH. If either of the two happens, probably direction is chosen. I think we will have one final ATH test before halving happens.

Following the recent decline, Poppe has issued a warning to the crypto community on how to interact with the price action. “You do not want to chase those massive green candles,” he stated.

He advocates entering the market when BTC‘s price is down by 15% to 40%. Additionally, he addressed those considering investing in altcoins, urging them to invest when altcoins are down by 25% to 60%.

Possible Triggers For The Correction

As of press time, Bitcoin’s price is trading at $65,843, demonstrating a decline of over 5% in the daily timeframe. Its trading volume has seen a significant uptick of 66% in the past day, while its market cap has decreased by 5%.

Since its peak of $73,000, achieved in early March, the price of Bitcoin has dropped by nearly 10%. One factor considered to have contributed to the retracement was the influx of funds into US Spot Bitcoin Exchange-Traded funds (ETFs), which has since started to calm down gradually.

Data from Wu Blockchain revealed that the products saw an overall net outflow of $85.84 million on Monday. BlackRock ETF IBIT recorded a net inflow of $165 million, while Grayscale ETF GBTC experienced a single-day net outflow of $302 million. Presently, the historical cumulative net inflow for the BTC spot ETFs is pegged at $12.04 billion.

Bitcoin

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Altcoins Shows Buy Signals, Massive Opportunity Beckons: Analyst

As the price of Bitcoin (BTC) continues to demonstrate a major fall in valuation, indicating a gloomy attitude toward the crypto asset, the bulls in the market are hopeful that the market will soon enter another Season for Altcoins.

Altcoins Showing Massive Buying Opportunity 

Bitcoin’s recent dip signaled the beginning of the decline in the cryptocurrency market, causing several altcoins to drop significantly. However, many cryptocurrency analysts believe that the drop in these altcoin prices might serve as an opportunity for future gains since the alt-season is on the horizon.

Popular cryptocurrency expert and trader Michael Van De Poppe has revealed his optimism in the altcoin market, highlighting the significant opportunities of getting into these tokens before the alt-season begins.

According to Michael Van De Poppe, “some altcoins have now dropped by over 40%” in comparison to their past all-time high. As a result, Poppe believes that this is the right time for investors to purchase these digital assets to position themselves for future gains.

Poppe noted he normally invests in these tokens “during bull cycles when they are about 25% to 60% less expensive.” This demonstrates the crypto expert’s confidence in the assets to rally in the coming months.

While pointing out the massive opportunities in the market, Poppe has underscored Arbitrum (ARB) as one of the altcoins investors should watch out for. He believes that ARB could realize substantial gains in time, as the token is down and poised for a new leg UP.

Altcoins

Recently, there have been notable advancements in the crypto asset’s price, demonstrating momentum for an upward movement. As of the time of writing, ARB was trading at $1.70, indicating an over 10% increase in the daily timeframe.

However, in the weekly and monthly timeframe, ARB is down by 22% and 15%, respectively. Meanwhile, Arbitrum’s market capitalization has increased by roughly 10% to exceed the $4.5 billion threshold.

Top ALTs To Purchase After Bitcoin’s Retracement

On-chain analyticS platform Santiment has also highlighted the drop in altcoins as a shot to garner profits in the upcoming months. Santiment pointed out several altcoins that offer a “possible bullish opportunity,” following Bitcoin’s crash today to a two-week low of $61,700.

Some of the tokens listed by Santiment are BOUNCE, LDO, OMG, STORJ, and SNX. The MVRV Opportunity and Danger Zone Model, according to Santiment, shows that many altcoins have now declined to the point where mid-term trading returns are in an “opportunity zone.” However, when an asset’s 30-day, 90-day, and 365-day average wallet returns add up to be negative, “this zone is breached.”

Even with the recent general correction, the altcoins market appears to be headed toward a favorable long-term picture. Consequently, this presents an excellent chance for investors to purchase these digital assets at a reduced cost.

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Altcoins Season: Analyst Predicts 2x Surge Post-Bitcoin Rally

Amid the recent bullish sentiment around the crypto market, investors and traders anticipate that altcoins will attract notable gains post-Bitcoin rally.

Altcoins Poised For A 2X Surge After Bitcoin Rally

Michael Van De Poppe, a well-known cryptocurrency analyst, has shared his insights regarding altcoins with the community on the social media platform X (formerly Twitter). His predictions examine the potential for altcoins to rise in the near future.

Poppe started by highlighting that the market capitalization of Altcoin is presently “lagging behind” in this recent market rally. However, he noted that is what tends to happen when investors’ “strength is confined to Bitcoin alone.”

It is noteworthy that in the past, altcoins generally performed poorly whenever Bitcoin was in control of the market. But despite the performance of the tokens lately, Poppe’s optimism remains unwavering.

Altcoins

Due to this, the crypto analyst anticipates altcoins to rise by 2x in the short term. However, according to the expert, the uptick is expected to take place “once BTC’s rally stabilizes.”

The post read:

The Altcoin market capitalization is still lagging behind and that is usually what happens when strength is surrounded by Bitcoin alone. However, once Bitcoin is going to stabilize, it seems we will likely have a potential 2x on altcoins to come.

This hope stems from the notion that gains from Bitcoin might be transferred to alternative currencies. When this happens, altcoins such as Ethereum (ETH), Cardano (ADA), and XRP will be positioned for significant gains.

Van De Poppe’s insights have triggered a wave of speculation within the community, with members expressing excitement about the forecast. A pseudonymous X user responded by saying that it is “fascinating how the ebb and flow of altcoin market cap in BTC’s shadow.”

He further claimed that when BTC stabilizes, the 2x surge in value will be practically inevitable. In addition, he asserted that the perceptive observer will always be intrigued by the complex interplay between these assets.

Investment Shift Toward Alternative Cryptocurrencies

Even though altcoins are currently struggling to gain adoption from market investors and traders, several analysts are still bullish about the tokens, forecasting a notable rise in the landscape after Bitcoin’s surge has cooled down.

Poppe is just one of the crypto analysts who is bullish on these cryptocurrencies. Altcoin Rover, a crypto expert, has also expressed his optimism while noting an investment shift towards these tokens.

According to the analyst, he will be “selling his Bitcoin holdings to purchase several altcoins” poised for notable growth. Rover also clarified the possibility of significant gains for altcoins following BTC surpassing its all-time high.

The expert has pointed out a path investors should observe that leads to the “Altseason.” This path cited by Rover, which comprises four distinct phases, basically never changes. 

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Bitcoin Long-Term Call: Analyst Predicts Price To Soar To $500,000

As Bitcoin makes its way through the erratic waves of the cryptocurrency market, crypto analysts are still bullish about the asset, predicting BTC to reach unprecedented heights in the long run. 

Bitcoin To Reach $500,000 In The Long-Term

Bitcoin is currently in the spotlight as crypto expert Michael Van De Poppe has shared a bold prediction regarding BTC’s future with the community on the social media platform X (formerly Twitter). 

According to Poppe, Bitcoin is presently experiencing an “overly bullish sentiment” from market participants within the cryptocurrency space. Due to this, he claims that there is “a likelihood” for the crypto asset to reach $500,000 in the long term.

Poppe also warned investors about upcoming severe corrections prior to the surge. However, he has urged them to take the dip as a “giant buying opportunity” to position themselves for future gains.

The post read:

The overly bullish sentiment is great for Bitcoin. Long-term, the likelihood of Bitcoin reaching $500,000 is definitely there. However, corrections will happen and they will be rough. If Bitcoin corrects by 20% or more, use those as a giant buying opportunity. That’s it.

The analyst’s prediction has sent quite a frenzy in the crypto community, with several enthusiasts expressing their belief in the forecast. A pseudonymous X user stated that he agrees with the projections while noting that “BTC has the potential to grow in the long-term.”

Poppe has also shed light on his “game plan” for the upcoming period for the digital asset. He pointed out two distinct aspects of the plan in light of Bitcoin’s corrections.

“Survive a potential Bitcoin correction, as Bitcoin is at the end of this run and probably consolidating,” he stated. In addition, he has encouraged investors to navigate their investment toward Ethereum during the time of the retracement. He added that investors should hold their ETH for about “1 to 2 months and wait in cash until the correction is over.” 

BTC Is The Ultimate Safe Haven

Michael Van De Poppe is not the only analyst who believes Bitcoin has the potential to achieve the $500,000 mark. Max Keiser, a financial journalist, has also predicted that BTC will reach the aforementioned price target.

Keiser appears to be anticipating a significant crash in the stock market drawing a similar scenario to the 1987 crash. Consequently, he believes Bitcoin to be a safe haven during this period, as he expects the token to “soar past $500,000.”

The expert also noted that BTC ETFs and domestic miners will be confiscated by the US government within this period. However, despite this action, Keiser reckoned that BTC would still see more inflows than Gold in the market.

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The $50K Quest: Bitcoin Oracle’s Pre-Halving Proclamation Sparks Excitement

As the eagerly awaited Bitcoin halving event approaches in April, cryptocurrency analysts are engaging in spirited discussions about the potential trajectory of the leading cryptocurrency’s price.

Offering his insights, Michaël van de Poppe, the founder and CEO of MN Trading, has shared his predictions, outlining a period of consolidation before potential growth, with a particular emphasis on the anticipated outperformance of certain altcoins.

Bullish Long-Term Outlook Amidst Short-Term Consolidation

Van de Poppe envisions a phase of consolidation for Bitcoin in the upcoming months, with a suggested price range oscillating between $48,000 and $50,000 leading up to the halving event.

However, he cautiously warns of the possibility of a further correction, potentially driving the price down to a range of $36,000 to $38,000 before witnessing a rebound. This aligns with his previous statements expressing a keen interest in accumulating more Bitcoin within this specified range.

Despite these short-term predictions of consolidation, Van de Poppe maintains a bullish stance on Bitcoin’s long-term prospects. He boldly projects a potential future price of $300,000, echoing the prevailing optimistic sentiment within the cryptocurrency market.

This optimistic outlook is not unique to Van de Poppe, as other analysts also express similar enthusiasm, with price predictions ranging from $170,000 to a staggering $1 million post-halving.

In an intriguing twist, Van de Poppe suggests that while Bitcoin experiences this period of consolidation, certain altcoins, namely Solana (SOL), Cardano (ADA), and Ethereum (ETH), may potentially “outshine” Bitcoin.

This implies an anticipation of their growth rates surpassing those of Bitcoin. Notably, Dogecoin (DOGE) has already displayed bullish momentum, seemingly validating these projections.

Bitcoin Price At A Glance

Bitcoin is currently trading at approximately $43,097, and its next move is crucial. If it breaks above $43,375, it might surge further, finding resistance at higher levels. On the downside, there’s a solid support around $42,940, backed by the 50-Day Exponential Moving Average (EMA).

The Relative Strength Index (RSI) suggests a neutral market, hovering around 54, without a clear direction. Traders are closely watching for a potential breakout above $43,375, which could trigger a bullish rally, or a drop below $42,950, indicating a bearish trend. The market is at a pivotal point, and significant price action could follow.

Traders Remain Upbeat On Much-Awaited Bull Cycle

The current Bitcoin market operates within a unique landscape, shaped by the recent launch of spot Bitcoin ETFs and the looming halving event. While the possibility of sideways movement exists, traders remain hopeful for the initiation of the long-awaited bull cycle.

As the crypto community eagerly awaits the unfolding of these predictions, the dynamics of the market continue to evolve, keeping investors on the edge of their seats in anticipation of the upcoming events.

Featured image from Adobe Stock, chart from TradingView

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Analyst Says ‘Bitcoin Price Correction Is Over’ – What’s Next?

The tides seem to be turning in favor of the Bitcoin price, as the market leader has reclaimed the $42,000 level for the second time in as many days. According to data from CoinGecko, the premier cryptocurrency has managed to register a 1.1% profit on the weekly timeframe. 

While Bitcoin appears to be garnering positive momentum at the moment, outflows from the Grayscale BTC ETF (GBTC) continue to brew fear of continued bearish pressure in the hearts of investors. However, a prominent crypto analyst has offered insights into the flagship coin’s recent movement, claiming that the price correction is over.

BTC Price To Make Another Run At $48,000?

In his latest video on YouTube, crypto pundit and analyst Michael van de Poppe declared that he believes that the Bitcoin price correction is over for now. The premier cryptocurrency experienced an almost 10% price decline after notching a multi-month high at around $49,000 on January 11, the day Bitcoin spot ETFs started trading in the United States.

While the general belief is that this price dip is connected to investors cashing out their shares in the Grayscale Bitcoin Trust, van de Poppe claims that it is only one of the negative events that enter the spotlight when the market is going through a correction. The analyst also highlighted the recent news of Mt. Gox paying out approximately 200,000 BTC to its past clients as another such incident.

However, with the selling pressure somewhat dampening, de Poppe speculated that the Bitcoin price might have one more run to $48,000 before the halving event. While acknowledging that the Bitcoin halving is a bullish event, the analyst doesn’t believe there would be a significant price rally prior to it.

In line with his analysis, Michael van de Poppe expects the Bitcoin price action to be within a range of $37,000 – 48,000 over the coming months. The crypto analyst anticipates that the altcoins will go on a positive run during this period.

Finally, van de Poppe mentioned that a trip down to $30,000 is not completely off the cards for the market leader, echoing recent bearish predictions. However, the pundit believes the odds of a $30,000 retest are low, as the crypto market rarely moves in the crowd’s direction.

Bitcoin Price Update

As of this writing, the Bitcoin price stands at $42,124, reflecting a mere 0.7% increase in the past day. With a market capitalization of over $826 billion, BTC maintains its position as the largest cryptocurrency in the sector.

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Analyst Predicts Bitcoin Consolidation, Eyes Long-Term Price Target Of $500,000

In the last day, Bitcoin (BTC) has notched up minor gains to the tune of 0.7%, pushing its market price above the $42,000 mark. Investors in the world’s leading cryptocurrency are likely encouraged by this recent price gain, following the 20% price decline that trailed the highly anticipated approval of the Bitcoin spot ETFs earlier in January. 

Amidst many speculations on BTC’s next movement, popular crypto analyst Michaël van de Poppe has released a prediction that indicates Bitcoin’s movement may be restricted for the coming months. Albeit, he projects a massive price surge in future years.

Bitcoin Potential Consolidation Paves The Way For Altcoin Boom

In a post on X on January 27, van de Poppe shared an intriguing forecast on Bitcoin’s price trajectory, as he predicted the digital asset to soon enter a consolidation state.  According to the crypto analyst, Bitcoin is likely to trade between $37,000 – $48,000 for the next few months. If this prediction holds true, BTC could maintain its current upward trajectory and head for the $48,000 zone before experiencing any major pullback. 

Interestingly, van de Poppe also stated that a possible Bitcoin consolidation would lead to altcoins recording significant market gains. In a previous prediction, the crypto enthusiast shared a similar belief explaining that BTC is gradually approaching its peak market dominance with the Bitcoin halving event just a few months away. 

Based on historical data from 2016 and 2020, when BTC attains its highest level of market dominance, the altcoins embark on a bullish run and even outperform the market leader. Michaël van de Poppe is projecting a similar occurrence in the coming months, accompanied by a BTC consolidation phase.

Analyst Remains Optimistic About Long-Term ETF Impact On BTC

In the same post on X on January 27, de Poppe also commented on the potential effects of the Bitcoin spot ETF on the asset’s price. The analyst expressed much confidence in the newly introduced exchange-traded products  (ETP) stating they had the potential to spur BTC to a market price of $300,000 to $500,000 in the coming years.

His prediction comes as the Bitcoin spot ETF market is currently witnessing a decline in outflows following a rather perturbing start which saw over $4.786 billion exit the novel market within its first 10 trading days. 

On January 26 (trading 11), the BTC spot ETF recorded a new minimum outflow of $255.1 million, according to data from BitMEX Research. At the time of writing, total net flows in the ETF market stand at $759.4 million with Bitcoin trading at $42,088.  If de Poppe’s forecast proves true, investors in both markets could record massive profits in the coming years.
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Polkadot Rally Incoming? Crypto Analyst Predicts 150% Price Surge For DOT

The Polkadot (DOT) token has witnessed significant downward pressure over the past few weeks. This negative performance was further exacerbated by the recent downturn of Bitcoin’s value, which tumbled below $40,000 over the past week.

However, the altcoin appears to be garnering momentum in the past few days, having rebounded positively from the $6 mark. A popular analyst on the X platform has put forward an exciting projection for DOT, saying the token looks set for a substantial upward move in the coming weeks.

Can Polkadot Reach $17 In This Cycle?

In a recent post on X, prominent crypto analyst Michael van de Poppe noted that the altcoins market is on the verge of a significant surge. Specifically, the crypto pundit singled out the Polkadot token as one of the assets to look out for.

According to Poppe’s post on X, DOT is approaching a significant support level in three days. The analyst identified the support zone between $5.60 and $6 while highlighting the need for this level to hold strong.

Polkadot

If the support level holds, Michael van de Poppe believes that Polkadot’s price is primed for a substantial run to the upside in the current cycle. And the crypto analyst put forward an ultimate $17 target for the cryptocurrency if a breakout does occur.

This potential price action would represent a massive 150% upswing from the current price point. Nevertheless, this would still be a long way from the token’s all-time high of $54.98

It is worth noting that Michael van de Poppe has also identified a price zone that will be integral to DOT’s possible run to $17. According to his analysis, there is significant resistance for the altcoin to overcome at around the $9.39 level.

DOT last hit this price point on Boxing Day. Resistance caused the coin’s value to collapse; since December 26, 2023, it has dropped by almost 30%.

DOT Price Overview?

As earlier inferred, Polkadot’s price has performed poorly since the turn of the year. According to data provided by CoinGecko, the cryptocurrency’s value has dipped by almost 24% in the past month.

As of this writing, the DOT price is $6.69, reflecting a 3.8% increase in the last 24 hours. However, the coin is still red on the weekly timeframe, with a 2.3% price slump over the past seven days.

Nonetheless, Polkadot ranks as the 13th-largest cryptocurrency, with a market capitalization of roughly $8.85 billion.

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Arbitrum Reaches Major Milestone In TVL As Price Rallies

Arbitrum (ARB), a layer 2 (L2) protocol has achieved yet another major milestone in its Total Value Locked (TVL) reaching new heights, following a surge in the crypto asset’s price.

Arbitrum Sees Surge In Total Value Locked (TVL)

According to the L2beat platform, Arbitrum’s TVL recently went past the $10 billion mark putting it in the spotlight. Data from the analytics firm reveals that the network’s TVL is currently at $10.36 billion.

L2beat’s report shows that Arbitrum One’s TVL soared by a remarkable 16.49% over the past seven days. With this accomplishment, the network is firmly established as the first Layer 2 network to surpass the $10 billion TVL threshold.

L2beat shows that Arbitrum is above Optimism (OP) by about 40% which comes in second place with a TVL of $6.44 billion. Optimism’s TVL has also increased significantly by 11.63% in the last 24 hours. 

When analyzing Arbitrum’s TVL, Ethereum (ETH) makes up about 30% of the TVL, while the ARB token makes up about 23.68%. Meanwhile, stablecoins make up a substantial portion of 29% of the TVL, with the remaining 15.76% going to other assets. This diverse composition highlights the platform’s increasing popularity and attractiveness to a larger range of users.

In addition, L2beat has also revealed a surge in the network’s market share. The data shows that Arbitrum One’s market share has seen an increase of over 48%. 

So far, the network’s token ARB seems to have experienced a rise in response to the rise in TVL. The digital asset price is currently set at $1.84, indicating a 2.82% increase in the past day.

As of the time of writing, the network’s trading volume has increased significantly by 60% in the past 24 hours. Meanwhile, its market capitalization is up by 1% in the past day, according to data from CoinMarketcap

The price rise is indicative of investors’ increased faith and interest in Arbitrum’s ecosystem. The network’s success also highlights the growing need in the Ethereum ecosystem for scalable and affordable solutions.

Analyst Predicts A Clear Uptrend For ARB

Cryptocurrency analyst Michaël van de Poppe has predicted a clear uptrend for Arbitrum, signaling a possible breakout. The analyst shared his projections for the token on the social media platform X (formerly Twitter).

Related Reading: Arbitrum Network Faces Major Outage, ARB Token Faces 4% Decline

In his analysis, he noted that the uptrend is “taking place with beautiful retests of previous resistances, becoming a support zone.” Poppe further pointed out a possible retest optimal “go-to level” between $1.50-1.60. 

This area denotes a tactical stage where the token might experience a retest before opting to breach the psychological barrier of $2.  However, this will only take place if the ARB continues on the current upward path.

Lastly, Poppe highlighted a difficulty in the token initiating its first cycle when put against Bitcoin. “Against $BTC, this pair barely wakes up and starts its first cycle,” he stated.

With the recent price of Arbitrum sitting at $1.84, it appears that the analyst’s predictions will soon come to pass.

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Crypto Analyst Tips Bitcoin (BTC) To Reach $40,000 In Q4 2023

Bitcoin has recorded an overall positive price movement in the last week, gaining by 2.39%, according to data from CoinMarketCap. The premier cryptocurrency suffered a slight dip between Tuesday and Thursday but soon rose on Friday to trade above $27,000 again. 

Meanwhile, in celebrating the new month of October, popular crypto analyst Michaël van de Poppe has predicted an incoming bullish run for Bitcoin in Q4 2033 based on certain expected events. 

Analyst Projects Bitcoin To Reach $40K In Q4 2023 Starting With A Positive ‘Uptober’

Via a post on X on October 1, Michaël van der Poppe welcomed his 667,000 followers to October with much optimism towards the BTC market, renaming the month as “Uptober.” 

In general, the well-known analyst believes the crypto bear market is almost over, and Bitcoin could soon record some significant gains, as he expressed in a previous post on September 30.

Interestingly, van de Poppe’s optimism extends beyond October to the whole of Q4 2023, as he predicts Bitcoin could attain $40,000 before the year runs out. Albeit, this prediction is hinged on the occurrence of certain events.

Firstly, Michaël van der Poppe mentions the potential approval of ETF applications. The ongoing Bitcoin spot ETF saga in the US has drawn much attention over the last few months due to its possible effects on the BTC market.

Currently, analysts are quite optimistic about the chances of approval of a Bitcoin spot ETF, which could result in massive gains for the largest crypto asset upon realization. 

Realistically, this approval could occur in Q4 2023, as it contains the second deadline date for most applications. 

However, the US Securities and Exchange Commission could decide to delay its responses to these proposals till the final deadlines, most of which are slated for Q1 2024. The US securities regulator is already employing such tactics, as seen with the first deadline dates for most applications.

In the last week, the SEC also announced it would be pushing back its response to certain applications beyond their second deadline date. These applications included proposals from BlackRock, 21Shares, Bitwise, and Valkyrie. 

The Bitcoin Pre-Halving Rally

In addition to potential ETF approvals, Michaël van de Poppe also mentioned a possible bitcoin pre-halving rally as a factor that could spur the asset growth to $40,000 in Q4 2023. 

Historically, the months leading up to the halving event are marked by a Bitcoin rally, as seen in 2012 and 2016.

Based on van de Poppe’s prediction, he foresees a similar BTC price movement in the coming months ahead of the next Bitcoin halving set for April 2024, during which the mining rewards will be slashed from 6.25 BTC to 3.125 BTC. 

However, investors should take note of black swan events, as seen with the last Bitcoin halving in 2020. In the months before this halving event occurred, the BTC pre-halving rally was temporarily affected by the negative market effects of the COVID-19 pandemic.

At the time of writing, Bitcoin is trading at $27.138 with a 1.07% gain in the last day. Meanwhile, the asset’s daily trading volume is down by 21.37% and valued at $6.28 billion. 

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Bitcoin: This Crypto Strategist Foresees A BTC Price Reversal Soon

Bitcoin analysts are following up on BTC price trends as the 2022 bear market drags into the beginning of 2023. The crypto market is slightly recovering from the FTX fiasco that caused most of the crypto assets to plunge. According to a famous crypto analyst, Kelvin Svenson, one technical indicator could end Bitcoin’s bear market.

In a video update, Svenson noted that BTC’s weekly relative strength index (RSI) is about to break out from its diagonal resistance. The RSI measures the ratio of ups and downs movements in the crypto market.

As per Svenson, this movement suggests that BTC bulls have started to gather momentum. Furthermore, he noted that the two-year-long market downtrend could end if an RSI breakout occurs.

Svenson explained the importance of a potential RSI breakout in his video update. Following his prediction, there could be a significant trend shift for BTC if the RSI breakout occurs in the next couple of weeks.

Bitcoin BTC

Svenson’s Prediction And Bitcoin Price Outlook

Svenson cited a weekly RSI breakout towards the end of the BTC bear market in 2018. Pointing at the BTC diagonal resistance line, he added that the market gets bullish once the RSI pops above the resistance level.

Given the momentum with which the weekly RSI is coming up, the crypto analyst says BTC is heading toward a significant bull run.

Bitcoin is currently trading at $16,831, but Svenson predicts that BTC may rally to $21,000 if the RSI exceeds its long-term resistance. Bitcoin’s current price indicates a potential rise of 25% if it reaches $21,000, which Svenson predicted.

This Crypto Strategist Foresees A Bitcoin Price Reversal Soon

The year 2022 marked the beginning of a new bear market for Bitcoin and the entire cryptocurrencies. Bitcoin declined nearly 75% since its all-time high of $69,000 in 2021.

Many analysts made different predictions for Bitcoin prices in 2022. For example, at a tech conference in Amsterdam in 2018, Tim Draper predicted that Bitcoin would reach $250,000 by the end of 2022. However, when 2022 finally came, Bitcoin price turned opposite Draper’s prediction.

The asset plunged below the $20k mark and hit $16,441 in November after the FTX crisis, but it is now moving toward the $17,000 mark and will likely cross it if the bulls stay intact.

Michael Van De Poppe Releases Bullish BTC Price Prediction For 2023

As the new year unfolds, other analysts besides Svesons have projected a new outlook for BTC in 2023. For example, Michael van de Poppe has made a new prediction for BTC prices in 2023. According to the analyst, BTC will experience a massive price surge in the coming months.

De Poppe predicts a rally between $30,000 and $35,000 as the U.S. Federal Reserve pauses interest rate hikes and reduce inflation. He also made peak high predictions for BTC’s 2023 bull cycle between $275,000 and $350,000.

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Bitcoin Could See 10% Jump, As Volatility Drops To 18-Month Low

After its third-largest weekly fall in over a year, the Bitcoin (BTC) price has finally began to rise. BTC’s price has effectively rebounded from the important support level of $37,500, despite an impending Federal Reserve rate hike.

Bitcoin Poised For 10% Jump

Various analysts, like The Wolf of All Streets, Michael van de Poppe, and PlanB, are bullish on the bullish trend, with the Bitcoin price currently holding above $39,000.

In a tweet on May 4, on-chain data provider Santiment published historical data showing a 20% rally as a result of BTC transactions is negative at the same levels between February 16 and 22. The week’s Bitcoin Ratio of On-Chain Transactions Volume in Profit/Loss statistic is the third largest capitulation in a year.

As technicals improve, several analysts and traders forecast a price increase in the following days.

Michaal van de Poppe predicts that the price of Bitcoin (BTC) will rise from current levels. He stated,

“Bitcoin starts to look way better at this stage. Odds that the event tonight is a ‘Sell the rumour, Buy the News’ event are increasing.”

A prominent crypto trader, The Wolf Of All Streets, predicted a rebound in Bitcoin price as it breaks above the trend line. A big rise could be anticipated if the BTC price stabilizes over $39,000.

Bitcoin On-Chain Transactions Volume. Source: Santiment

According to PlanB, the original $55K S2F model, which was released in March 2019, appears to be tracking the Bitcoin price trend. He also expects Bitcoin to rise in value.

The price of Bitcoin (BTC) has regained over 5% in the previous 24 hours, stabilising near $39,000. Whales continue to accumulate at dips, resulting in a huge increase in trading volume. Furthermore, the BTC has avoided a drop below the critical support level. It suggests that a rally could happen in the next several days.

Suggested Reading | Bitcoin Briefly Tops $40,000 As More Countries Adopt Crypto

BTC Trades Sideways

BTC has been trading sideways over the past few days, with the price dropping below $40,000 on April 26. Although, after reaching the swing highs near $48,000, the price has already begun to drop. BTC retreated and lost 45 percent of its value. BTC sellers, on the other hand, are weary as the price trades sideways in a narrow range since April 25.

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BTC/USD trades sideways. Source: TradingView

A daily close below the session’s low, on the other hand, would disprove the bullish price assumption. In that situation, $36,000 would be the lowest point on the downside.

BTC/USD is currently trading at $39,874, up 5.63 percent for the day as of publishing time. According to CoinMarketCap, the first cryptocurrency by market capitalization has a 24-hour trading volume of $35,528,442,016.

Suggested Reading | Will Bitcoin Shoot Over $40,000 — Or Drop To $35,000?

Volatility Drops

Bitcoin’s historical volatility is at 18-month lows, according to statistics released by the Buy Bitcoin Worldwide webpage. Its anticipated 60-day average value fell to 2.62%.

Bitcoin (BTC) volatility was last this low in November 2020, when the orange coin broke through $10,000 for the first time in this bullish cycle.

Image by Buy Bitcoin Worldwide

On April 27, 2022, thirty-day volatility reached a local low, but it is already showing signs of recovery.

The Bitcoin Volatility Index (BVOL), similar to the stock market’s VIX, shows how much Bitcoin’s price changes on a given day in relation to its previous price.

The most recent increase in Bitcoin (BTC) volatility occurred in July 2021, when the flagship cryptocurrency was twice as volatile over a 30-day period as it is now.

Featured image from Pixabay, chart from TradingView.com