bitcoin (BTC) continues to perform well, with an average gain of 79% since the beginning of the year. Although the BTC price has dropped by about 2% in the last 24 hours, its market cap is higher than that of Visa Inc and Mastercard. This is clear evidence of the growing popularity of digital assets over traditional payment methods.
crypto trader Michael van de PoppeAccording to , Bitcoin price could present a zone of buying opportunities at $28,600. But for now, new highs are unlikely. Instead, it’s around $32,000 as the next price target if the bulls hold. Poppe previously shared his prediction that the BTC price could reach $40,000 and $50,000 before the end of 2023.
Cryptocurrency Trader Rekt Capital advises his Twitter followers to focus on the bigger picture of the recent macro breakout that invalidated last year’s bear market. did.
Shallow #BTC bottom or deeper bottom…
Don’t lose sight of the bigger picture$BTC #Crypto #Bitcoin pic.twitter.com/2Uw3ZXIRQs
NEWS CONTINUES BELOW— Rekt Capital (@rektcapital) April 16, 2023
Koinfinans.com As we reported, long-term investors should look out for a possible extended correction in the near term, as market economists predict a mild recession in the second half of 2023. This is because of the weekly death cross between the 50 and 200 MAs.
Also, ongoing regulatory scrutiny, particularly in the US, has limited the entry of many investors into the crypto market. A close capitulation is expected before next year’s Bitcoin halving event, as the recent macro breakouts are compared to the previous ones.
You can follow the current price action here.