Michaël van de Poppe – Bitcoin Will Soon Hit Six-Figure Valuation October 9, 2021 October 9, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsOctober 9, 2021 by Kelly Cromley

Michaël van de Poppe – Bitcoin Will Soon Hit Six-Figure Valuation

Van de Poppe predicts that Bitcoin (BTC) will reach a six-figure valuation in the current bull market. In light of Bitcoin’s recent rise to over $55,000, the leading cryptocurrency asset’s current support is between $49,800 and $51,000, according to the cryptocurrency market expert.

Thus according to Van de Poppe, “Bitcoin may fall in the range of $40,000 to $44,000 in the event of a downturn. The band low that we have been dealing in before is the point that we should be monitoring given the breach that we’ve had. So, this is the whole low-end zone, which is the $48,800 to $51,000 range.

The key level for me right now is the level at which we receive a correction. Because if we lose that zone, I believe we’ll soon [fall] below this level of $47,000 and return to this area [between $40,000 and $44,000].” The optimistic view is for Bitcoin to remain range-bound until breaking over the current record high of $64,804 set by Van de Poppe.”

When BTC soared from $15,000 to just over $63,000 in the previous cycle, the cryptocurrency expert believes it’s expected to follow the same trend before potentially hitting a new all-time peak of at minimum $250,000. “As a result, we get some horizontal movement, get to see the all-time peak, see some downward movement, and then see a significant breakout. You may then copy-paste this whole run [$15,000-$63,000] into the one above $63,000, and we’ll be done in the last phase of development. After that, we’ll presumably anticipate we’ll hit somewhere around $250,000.” As per CoinGecko, Bitcoin has gained 30% in the last seven days and is now trading at $54,993 per coin.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.