An important crypto analyst is addressing the end of the year 2023 and new predictions for Bitcoin. Check out the latest reports about the matter below.
New price predictions for Bitcoin
Michaël van de Poppe, a cryptocurrency trader, is optimistic about Bitcoin’s future despite recent challenges. In a new YouTube video, he informs his 162,000 subscribers that Bitcoin is approaching levels that present opportunities for accumulation.
Van de Poppe believes that this could trigger an uptrend in Bitcoin.
He explains that Bitcoin is currently consolidating in a specific range, which indicates a high probability of a retest at $25,600 to $25,800. He plans to purchase his entries in this region since it is an excellent opportunity.
However, if the retest doesn’t happen, he will activate his positions when Bitcoin flips at $26,500. He predicts that Bitcoin will reach $28,000 and even higher numbers such as $30,000+ by Q4, which is a positive projection overall.
According to Van de Poppe, the current price trend of Bitcoin is similar to what was observed before the previous halving event.
He suggests that if the price remains above the 200-week EMA (exponential moving average), it is likely to continue moving upwards.
This situation is comparable to the period between 2015 and 2016, where the price consolidated and then started trending upwards.
Similarly, it is expected that the price of Bitcoin will gradually increase, leading to an overall uptrend in the market. At present, the price of Bitcoin is $26,710.
BlackRock and big players could take over BTC mining
According to Bloomberg’s crypto market analyst, Jamie Coutts, Bitcoin (BTC) might be vulnerable to being taken over by the powerhouses of the traditional financial system.
Coutts shared data on social media platform X, revealing that BlackRock, the world’s biggest asset manager, began gaining proxy exposure to Bitcoin in 2020 by purchasing shares of mining company Marathon Digital.
We suggest that you check out our previous article in order to learn more details about this.
