Expert Trader Predicts BTC to Reach $40K in Coming Months
An expert crypto trader, Michael van de Poppe, recently shared his technical analysis for Bitcoin (BTC) in a tweet. According to the tweet, BTC’s crucial price level at $27,900 held, causing the market leader’s price to surge to $28,700 overnight. Van de Poppe concluded the tweet by stating that consolidation at this point makes it likely that BTC’s price will continue to rise to $30,000 in the coming days.
Van de Poppe also uploaded a video analysis yesterday, where he conducted an in-depth analysis for BTC and set his upside target for BTC between $40K-$45K. He believes that the Dollar Currency Index will experience a strong correction in the coming weeks, which will be bullish for higher-risk assets such as crypto and BTC.
Van de Poppe stated that BTC will have a window of a few months to rally before experiencing a correction and then continuing to rally. He justified this statement by stating that the window will only exist until the Fed performs a pivot with its monetary policy, which he believes will happen in a few months as we approach the end of the interest rate hike phase.
At present, BTC’s price remains above the $28K mark, standing at $28,517.96, according to CoinMarketCap. The 24-hour gain of 1.69% has flipped BTC’s weekly price performance into the green, taking the current weekly price performance to +1.50%. As a result, BTC’s total market cap is estimated to be $551.572 billion.