Bitcoin: 70% Price Increase Might Be in the Cards
Michaël van de Poppe, a popular cryptocurrency analyst, and the trader has updated his outlook on Bitcoin's price movement in the upcoming weeks and months.
Introduction
Cryptocurrency analyst and trader Michaël van de Poppe updated his outlook on Bitcoin (BTC) in a new video.
Bitcoin’s short-term trading range
According to Van de Poppe, Bitcoin could trade in a range for a while before rallying to a price of up to $40,000.
The $37,000 to $40,000 price level is where most investors and traders with open positions in Bitcoin are likely to close their positions, possibly in Q2 2023.
Bitcoin’s potential price increase
The $37,000 to $40,000 target would be an increase of at least 70% from its current price of around $21,700.
Van de Poppe predicts that a sharp trend reversal will occur before the bull cycle can start.
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Conclusion
The cryptocurrency analyst and trader believes that Bitcoin will reach a target price of $37,000 to $40,000 in Q2 2023.
Andrey Kunev
Reporter at CoinsPress
Andrey Kunev is a knowledgeable cryptocurrency content creator passionate about the crypto market. With extensive experience in market analysis and investment reporting, Andrey is a valuable asset to the CoinsPress team. As a frequent contributor, he offers insightful and comprehensive coverage of market trends, price fluctuations, and new advancements in cryptocurrency. Whether you're a seasoned investor or just getting started, Andrey's clear and concise writing offers a comprehensive look at the current state of the crypto market and its prospects. Stay up-to-date with CoinsPress's expert analysis and commentary on all things cryptocurrency.
