Famous CEO Announces Critical Area For Bitcoin (BTC) Buy Signal! When Will the Breakdown Come?

Central banks, which have seriously pumped money into the market after the pandemic, continue to increase interest rates to deal with the inflation problem they have opened up.

The rise of the dollar index to peak levels due to the Fed’s interest rate hikes and the decline of the US stock markets have also triggered a downward movement in Bitcoin for months.

While the price, which has been stuck between $ 18 – $ 20 thousand recently, caused the volumes to fall, many investors said, “When is the next break in Bitcoin?” asks the question.

Michael Van De Poppe, CEO of Eight Global Explains Critical Area for Buying Bitcoin (BTC)

As the markets continue their erratic movement, one expert has given the key area that will signal a strong Bitcoin buy.

CEO of Eight Global and Michael van de Poppe, a prominent crypto analystBTC 19,400-19,600 He thinks he should break the dollar clearly.

He believes that breaking this level could initiate a massive Bitcoin rally.

Michael also considers the current structure of the US dollar and yields and states that the rally could happen in 1-2 weeks.

The US Federal Reserve implements restrictive monetary policy to reduce inflation levels in the country. Other central banks, such as the European Central Bank and the Bank of England, have similar practices.

However, the restrictive stance of the FED is causing a serious selling wave in the crypto market. Bitcoin is down more than 60% from its all-time high.

At this stage, while taking a buy-side position is considered positive for long-term investors, the direction of the breakdown for the medium and short-term will be followed in the future.

*Not investment advice.