Bitcoin’s value has been on a wild ride lately, hitting a high of $53,000 before taking a nosedive. But one crypto expert says the cryptocurrency still has room to grow.
Bitcoin’s Strength
Despite the recent drop, Bitcoin is still trading above $50,000, which analyst Michael van de Poppe sees as a sign of strength. He believes that Bitcoin’s upward momentum is still intact, but it needs to hold steady at its current level to avoid a more significant correction.
Price Corrections Are Normal
Poppe warns that price corrections are a normal part of the crypto market and that they can be sharp and sudden. However, he also says that these corrections are usually short-lived.
Bitcoin’s Long-Term Trend Is Bullish
Poppe believes that Bitcoin’s long-term trend is still bullish, and he expects the price to continue to rise over time. He doesn’t think that Bitcoin will reach $100,000 within the next two months, but he does see it eventually hitting that mark.
Possible Scenarios for Bitcoin’s Price
Poppe sees two possible scenarios for Bitcoin’s price in the short term. The first is a downward trend, with Bitcoin falling to the $48,000-$49,500 range. The second is a surge to new highs, with Bitcoin reaching $54,000-$58,000.
Poppe’s Prediction
Poppe predicts that Bitcoin will experience a short-term correction before making a final push to $54,000-$58,000. After that, he believes that the current pre-halving run will be over.
