As the crypto market prepares for the upcoming Bitcoin (BTC) halving in April 2024, the discussion surrounding Bitcoin’s price trajectory has continued to gain momentum. Particularly, Michaël van de Poppe, a renowned figure in the field of cryptographic analysis, shared your latest analysis on Bitcoin.
Next Stop $80,000?
In a post shared on
This forecast is based on Bitcoin’s current consolidation phase, indicating an accumulation to test its all-time high with the potential for a subsequent correction.
#Bitcoin consolidating.
I think we are near the peak of this run, but I think we will have another ATH test, maybe up to $75-80k before the halving and then we will be correcting.
During this consolidation/correction phase, I expect altcoins to outperform. pic.twitter.com/bnQjYuIzrr
-Michaël van de Poppe (@CryptoMichNL) March 27, 2024
Notably, the Bitcoin halving plays a crucial role in this scenario, serving as a crucial event that historically influences the evolution of Bitcoin. market dynamics.
The halving, expected to occur in April 2024, will halve the reward for mining new blocks, thereby reducing the rate of creation and entry of new BTC into the market.
This event, which occurs approximately every four years, is predicted to create shortages, pushing demand and possibly price to a higher level than previous patterns have suggested.
Bullish on Bitcoin
In addition to Van de Poppe’s predictions, other analysts shared their optimistic outlook regarding Bitcoin’s potential price movement. Jelle, another esteemed crypto analyst, posits that Bitcoin is primed for a significant jump, potentially surpassing the $100,000 mark sooner than expected.
This bullish sentiment is also echoed by Doctor Profit, who highlights the importance of understanding Bitcoin’s current market behavior, including its recent sideways movement. He identifies this move as an accumulation phase poised to catalyze a rise beyond the $80,000 mark, targeting $100,000.
#Bitcoin – What is the next?
Sunday’s big report, everything you need to know:
🚩 TA/LCA/Psychological Analysis: In last week’s Sunday report, we discussed a predicted sideways movement in the larger time frame. As noted, Bitcoin is moving perfectly in this sideways region as… pic.twitter.com/BhE5Weycxv
– Doctor Profit 🇨🇭 (@DrProfitCrypto) March 24, 2024
The importance of accumulation in this context cannot be overstated. How recently reported by NewsBTCThere is an increase in the number of addresses holding at least 1,000 BTC, suggesting that institutions and large investors are preparing for what could happen after the halving.
However, despite this accumulation, Bitcoin in the last 24 hours has fallen almost 2%, with a current market price under $70,000.
Featured image from Unsplash, chart from Tradingview
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