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.