Bitcoin Forecast from the Analyst: It Shouldn’t Drop Below This Level!

Cryptocurrency analyst Michael van de Poppein a recent post Bitcoin (BTC) He presented his impressions of the price.

Analyst: $21,300 Level is Critical

The analyst claimed that the $ 21,300 level is extremely important for the BTC price, and if there is a drop below this level, there may be a drop to $ 19,500.

Crucial area for #Bitcoin is to hold the $21.3K area.

Losing that, and we’ll see another sweep towards $19.5Kish and #altcoins dropping 15-25%.

— Michaël van de Poppe (@CryptoMichNL) March 4, 2023

However, van de Poppe suggested that if the Bitcoin price makes such a move, there may be a 15% to 25% loss in altcoin prices.

At the time of this writing, the BTC price is trading at $ 22,400, with a 3.5% decrease in the last 1 week.

In addition, the analyst also claimed that the BTC price could climb to $ 40,000 in a few months:

“BTC is $25,000. People wish they had bought it for $15,000. BTC hits $40,000 in a few months. People wish they had bought it for 20-23 thousand dollars.”

The analyst, who has more than 650,000 followers on Twitter, also shared that he liked Binance CEO Changpeng Zhao’s response to the recent wave of FUD:

“CZ is giving the best response to FUD. Just keep improving. FUD in crypto is always the same. This is nothing new. Downturns happen, it’s time to evaluate and wait for them. Crypto will gain massive momentum.”

Van de Poppe finally explained his final thoughts on the market as follows:

“As the market becomes slow and indices become volatile, moves will come from Monday (today). The trend is up again for the indices, if this continues, BTC will most likely bounce.”

*Not investment advice.