bitcoin The price is moving strongly towards $25,000. It is estimated that the token can close daily trading above the levels. The bullish momentum has accumulated which can push the price up to some extent. The cut volume may hinder the progress of the rally, but the uptrend may continue as bullish belief builds up.
One of the well-known analysts Michael van de Poppebelieves that the BTC price will rise above $35,000. Analysts believe the price could ignite a strong rise and mark new highs in the next few weeks. Unfortunately, he believes the price could be subject to a major bearish wave afterwards. He estimates that this could also bring the price down to $20,000 to $25,000.
Corrections remain to be relatively shallow.
I think that we’ll continue the run towards $35-40K before we’ll have a harsh correction, maybe even to $20-25K.
NEWS CONTINUES BELOWMaximize profits, start allocating towards $USDT the higher we come, buy on the correction in second half of 2023.
— Michaël van de Poppe (@CryptoMichNL) February 20, 2023
NEWS CONTINUES BELOW
Koinfinans.com As we reported, the analyst believes that a drastic correction could occur in the second half of 2023 as the corrections remain relatively shallow. This might be a good time for buyers to hoard some coins. A similar idea is another analyst citing Bitcoin cycles. Willy Woo also shared by
The analyst here suggests that the BTC price may re-enter the accumulation phase of the Bitcoin cycle observed in the past, referring to CVDD, or Cumulative Value days destroyed. In the past, it marked Bitcoin bottoms. This was followed by a period of accumulation and a small price increase. A similar trend is currently expected as the November 2022 trend could be repeated.
Currently, Bitcoin price is approaching $25,000, but a potential retest below $24,900 is quite possible. Here, if the bulls fail to hold the levels tight, a steep retest could occur that pushes the price down excessively. Some analysts believe that the drop could drastically push the price below $20,000. On the contrary, if the bulls retrace their level, a decent rise beyond $26,000 is also possible.