Crypto Analyst Predicts Bitcoin Could Surge Over 70% in 2015-Style Move
Crypto analyst Michaël van de Poppe suggests that Bitcoin (BTC) could experience a significant surge of over 70%, similar to a move witnessed in 2015. He points out that Bitcoin is currently following a pattern from 2015, where it remained in a trading range before experiencing a major upside move prior to the halving event in 2016.
The next halving event for Bitcoin is expected to occur in April 2024, which happens every four years and results in miners’ rewards being halved.
Van de Poppe is closely monitoring the 200-week exponential moving average (EMA), which he believes is currently acting as support. He suggests that Bitcoin’s market correction is over and predicts that it will retest range highs, potentially leading to a surge of more than 70% from its current value.
Possible Scenarios for Bitcoin
According to Van de Poppe, one possible scenario for Bitcoin is a rally to around $32,141 next month, followed by a retest to approximately $28,700, and finally a breakout to higher levels.
As of now, Bitcoin is trading at $26,470, showing a 1.2% increase in the last 24 hours.
Hot Take: Bitcoin Set for Impressive Surge
Crypto analyst Michaël van de Poppe believes that Bitcoin is poised for an impressive surge similar to what was observed in 2015. By comparing the current price action with the patterns seen in 2015, he predicts that Bitcoin could experience a surge of over 70%. Van de Poppe points out that the upcoming halving event in April 2024, which occurs every four years, could be a catalyst for this surge. He suggests that Bitcoin’s market correction is over, and the cryptocurrency will now retest range highs. If Bitcoin manages to hold above crucial levels, it could continue its upward momentum and potentially reach $45,000.
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