Michael van de Poppe, one of the popular analysts of the cryptocurrency world, Bitcoin He believes that a rally that will take the price towards $50,000 and above is imminent. Despite this rally, Poppe also warned of a long-term consolidation.
Regularly publishing videos on YouTube channel Michael van de Poppepredicts that the Bitcoin price could reach $52,000 before the next halving. As we reported as Koinfinans.com, the halving in question is expected to occur in April 2024.
Although Van de Poppe is bullish on BTC in the coming months, he believes there will be a long period of consolidation after the halving and that it will trade in a wide range before reaching an all-time high.
A pump will come before the halving. After that, a consolidation will follow and then we will consolidate in a range by the end of the year and then we will start breaking all-time highs and we will have the parabolic run that we compare to 2021 or 2017.
NEWS CONTINUES BELOWSo at this point, 2024 probably won’t be the year we break all-time highs.
Looking at Van de Poppe’s chart, he appears to be predicting that Bitcoin will consolidate between $38,000 and $48,000 for most of 2024 before rising to an all-time high the following year.
As Koinfinans.com reported, at the time of writing this article, Bitcoin was trading at $40,933.