• Michael van de Poppe, a cryptocurrency expert, has predicted that Bitcoin price will surge to $40,000 by June 2023.
• The current trading volume of Bitcoin is $40.7 billion and it has experienced a 2% decrease in value over the past 24 hours.
• Technical analysis reveals rising selling pressure as indicated by the RSI and MACD indicators, 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%
Renowned cryptocurrency expert Michael van de Poppe has reemphasized his prediction of an imminent massive surge for the cryptocurrency, with Bitcoin currently trading above a crucial level. Van de Poppe anticipates that breaking through the $23,200 resistance level would drive Bitcoin’s price up to reach $40,000 by June 2023.
Current Trading Volume
Bitcoin has a trading volume of $40.7 billion and has experienced a 2% decrease in value over the past 24 hours. Despite anticipating a potential pullback to $21,700, he acknowledges that this signals growing momentum in favor of bulls which could lead to dramatic rise in price for the leading cryptocurrency.
Technical Analysis
The technical analysis reveals rising selling pressure as indicated by the RSI and MACD indicators which may lead to a new low of $22,050 in the near future. The 50-day exponential moving average suggests that Bitcoin may face resistance near $23,250 despite an overall bullish trend with potential increase up to as high as $23,500 if it surpasses this level.
Potential Buying Opportunity
Van de Poppe acknowledges the potential for prices to drop as part of extracting liquidity but believes this could provide favorable buying opportunity for investors who are looking at long term gains from their investments in Bitcoins.
Final Thoughts
Despite predictions from analysts like van de Poppe suggesting an imminent surge ahead for Bitcoin prices short term volatility remains unpredictable and only time will tell when these predictions become reality or not.
