Cryptocurrency analyst Michael Van de Poppe, cryptocurrency shared his predictions for the near future of the market. Van de Poppe expects the markets to remain flat and to experience a temporary bottom in the first quarter of the year.
Famous Cryptocurrency Analyst Believes Bitcoin (BTC) Will Rise
However, the second quarter could bring some relief with a rally in Bitcoin, potentially reaching the $30,000 to $35,000 price range.
Q1; Sideways markets. Potential temporary bottom.
Q2; relief rally ten #Bitcoin to $30-35K amongst pause of hikes / inflation coming down.
Q3/Q4; Recession & Crisis kicks in, one final drop on indices.2024-2025 massive bull cycle, #Bitcoin to $250-300K.
— Michaël van de Poppe (@CryptoMichNL) January 1, 2023
According to Van de Poppe, the third and fourth quarters of the year may bring more turbulent times, with recession and crisis potentially leading to a final drop in indices.
Despite this potential drop, Van de Poppe remains bullish on Bitcoin’s long-term prospects and predicts a major bull cycle in 2024 and 2025.
During this time, he expects the Bitcoin price to reach as high as $250,000 to $300,000.
Van de Poppe also bitcoinSharing his thoughts on the current situation of , he stated that it maintains a very important level and is currently attacking the resistance.
He believes that the next week could be a good week for Bitcoin, with potential breaks near the $16,600 and $17,100 levels.
In addition to market forecasts, Van de Poppe stressed the importance of closely monitoring key data releases next week.
This includes information from OPEC that may affect the oil price and affect the overall market.
Open jobs data will also be watched closely, as changes in employment levels can indicate the strength of the economy and potentially affect the performance of various assets.
Finally, the FOMC minutes, which give an idea about the decision-making process and monetary policy of the US Federal Reserve, will be closely examined by market participants.
By following these key indicators, traders and analysts can make more informed decisions about the direction of the market.
*Not investment advice.
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