Michael van de Poppe, an Amsterdam-based cryptocurrency trader and analyst, has shared a new Bitcoin price prediction on the social media network X/Twitter.
Poppe has revealed the main factor behind his prediction that the leading cryptocurrency would soon reach new heights.
“Bitcoin correction seems over”
Poppe stated in a tweet that Bitcoin has tested its lowest bounds and hasn’t found liquidity below them, just as he had expected. However, the expert believes that the current drop is gone and that the top cryptocurrency is now poised to challenge the $47,000–$50,000 range.
According to Michael van de Poppe, the approval of Bitcoin spot ETFs from BlackRock, Fidelity, Ark Investment, and other Wall Street financial firms is the primary cause of the anticipated price increase. Leading analysts at Bloomberg are among the many experts who predict that Bitcoin ETFs will be approved by the SEC regulator in early January.
https://x.com/CryptoMichNL/status/1737044375052403145?s=20
The expert tweeted on December 18 that it would make sense to anticipate that Bitcoin will “sweep the lows” before rising once again.
Poppe thinks that “profit taking end of year” is the primary cause of Bitcoin’s dramatic lows. The analyst went on to say that he thinks Bitcoin will turn around and begin rising in the rankings once more this week or early next week.
When this article was written, the price of Bitcoin was trading at $43,17, having increased 5.85% in the previous day.
Bitcoin to go forward in 2024: Michael Saylor
In response to a query on MicroStrategy’s approach to Bitcoin, Michael Saylor, the business intelligence guru at MicroStrategy, recently said in an interview that he believes Bitcoin will “go forward in the year 2024.”
Saylor claims that a strategy based on Bitcoin is secure for institutions since it is the only commodity allowed by U.S. financial authorities (because BTC has no centralised issuer). This is in contrast to other digital assets.
Saylor explains the current surge in Bitcoin prices by saying that all aspects of life on a global scale are undergoing a digital revolution, and that Bitcoin is facilitating this transformation of wealth. Saylor thinks that this is what’s causing the trends. He thought back to his prior prediction that Bitcoin will reach $1,000,000 if it did not drop to zero.
