BTC Price Analysis: Crypto Expert Michael Van de Poppe Maps Out Bitcoin’s Path To $40K
Michael van de Poppe, a renowned cryptocurrency analyst, has updated his prediction on Bitcoin reaching $40,000. According to him, the market is consistently making small and brief adjustments, followed by upward pushes, which indicates an unmistakable higher trend at the moment, contrary to past trends.
In addition, Michael stated that uphill movement results in substantially more shade. Although the market experienced some corrections over the past ten to twelve days, the apparent levels did not retest, and the same thing is observed with Bitcoin’s current movements.
“Right now we are attacking $25k and even though we are attacking that I stated that I was looking at a correction towards $22,700. I’m not even getting that correction because there’s just so many people jumping into the markets at this point.”—Michael van de Poppe
Bitcoin’s Future Trajectory
If Bitcoin successfully breaks the $25,000 mark with a clear candle, it is expected to rise all the way to $31,000 as investors would be willing to short the price in anticipation of a further increase. Afterward, the leading crypto will reach $35,000 and eventually $40,000.
Moreover, the momentum in Hong Kong seems to be changing, and the macro is performing better. Despite recent market gains, short sellers remain active, and the sentiment is still bearish, indicating investors’ readiness to short.
A close examination of Bitcoin’s weekly and 3-day charts shows an ongoing battle close to a crucial psychological milestone. Breaking this barrier will lead to spectacular momentum; otherwise, the year-to-date upswing will be lost. At the time of writing, one bitcoin equals $24,788.