Michaël van de Poppe, Bitcoin He thinks the price could rise over 70% with a move similar to that in 2015.
The analyst thinks BTC may be repeating a pattern from 2015, when it remained in a sustained trading range before a major upward move ahead of the 2016 halving event.
The next halving event, which occurs every four years, is expected in April 2024, when miners’ rewards will be halved.
You can see that we have formed a nice range, which means it is very similar to the price action we witnessed in 2015. Let’s go there. Here (in 2015) we were creating a horizontal moving range for a long time and we couldn’t break it until the pre-calving run happened.
NEWS CONTINUES BELOW
The trader also underlined that he is closely following the 200-week exponential moving average (EMA), which he believes continues to be support. Stating that Bitcoin’s market correction has ended and BTC will now retest the high ranges, which could cause it to rise 70% more than its current value, Poppe drew attention with this approach.
As we reported as Koinfinans.com, the realization of this prediction of the trader means that the price can rise to $ 45,000. However, the trader’s scenario is to first rise to $32,141 next month and then test $28,700.