Bitcoin is still surrounded by optimistic predictions these days, and the latest one claims that the king coin will see a boom in price above $50,000. Check out the latest reports about this below.
Bitcoin price to explode over $50k
A well-known crypto analyst, Michaël van de Poppe, has predicted that Bitcoin (BTC) is poised for a rally above $50,000.
In a recent strategy session, he shared with his 162,000 YouTube subscribers that he believes Bitcoin will surge up to $52,000 before the next halving in April 2024, which will cut BTC miners’ rewards in half.
However, Van de Poppe also predicts that after the halving, Bitcoin will undergo an extended consolidation period during which it will trade in a wide range without hitting a new all-time high.
Despite this, he remains bullish on BTC’s prospects in the upcoming months.
“Pre-halving [we’re] going to have a pump. After that, we’re going to have a consolidation taking place and then we just consolidate into a range until the end of the year and then we start to break the all-time highs and have the parabolic run which we compare 2021 or 2017 with.
So at this point, 2024 is probably not going to be a year where we break the all-time highs.”
The trader’s chart indicates that Bitcoin will likely consolidate between the range low of $38,000 and a high of $48,000 throughout most of 2024.
However, it is expected to surge to a new all-time high the following year. As of now, the current trading price of Bitcoin is $40,933.
Other optimistic crypto predicitons
An expert analyst, DonAlt, who accurately predicted the minimum price of Bitcoin for 2022, has now outlined his prediction for the cryptocurrency to reach a new all-time high of $110,000.
The anonymous analyst shared his views in a recent strategy session with his 55,400 YouTube subscribers.
DonAlt predicts that Bitcoin will experience a parabolic surge after its halving in April 2024, where rewards for BTC miners will be cut in half.
Despite being optimistic about the long-term prospects of Bitcoin, DonAlt believes that the top cryptocurrency by market cap will test its support at $32,000 in April next year before heading towards his bull market target.
