A popular crypto analyst, Michaël van de Poppe, thinks Bitcoin (BTC) could drop even lower before it starts climbing again.
Bitcoin’s Potential Dip
Van de Poppe, who has a large following on social media, believes BTC could fall to $54,000 before reversing course. He sees the recent drop as a correction, and expects a rebound soon.
“The recent dip was expected, and it might continue to $54,000 before we see a turnaround,” he said. “This is a crucial week for Bitcoin, and we’ll get a better idea of its direction based on its performance at $56,000 and $58,200.”
Macroeconomic Factors
Van de Poppe also points to some big economic factors that could push Bitcoin upwards. He thinks the weakening economy might force the Federal Reserve to lower interest rates, which could be good news for Bitcoin.
“The economy is slowing down, which is good for gold and, in turn, Bitcoin,” he explained. “The Fed might have to cut rates to keep up, and that could lead to a strong rally for Bitcoin.”
Possible Deeper Dip
While he expects a bounce back, Van de Poppe acknowledges that Bitcoin could dip even further, potentially dropping below $50,000.
“The market is still correcting, and we haven’t seen the bounce we were hoping for,” he said. “If that’s the case, we could see Bitcoin fall to $53,000 or even $49,000 before it starts going up again.”
Remember:
This is just one analyst’s opinion. The crypto market is volatile, and no one can predict the future with certainty. Do your own research before making any investment decisions. /p>
