After maintaining a notable upswing during the previous day’s trade, the Bitcoin price corrects itself slightly by dropping by more than 4%. While the trading volume remains relatively high, the possibility of mounted selling pressure over the token since the early training hours.
However, Michael van de Poppe, a popular crypto analyst, believes in his new video that BTC price could still reach $30,000 in the near future.
The BTC price is expected to drop back to the $17,500 and $17,700 range after reaching the monthly highs at $18,000. From these levels, the star crypto is likely to soar high, breaking through the key resistance levels at $18,300.
“We get a smackdown from $17,500 to $17,700. This is the range where you want to start buying and then we can see continuation. The moment we break the key resistance, which is the $18,300 area, we will move to this range. We’re back in and most likely we’ll start overshooting very bullish… So then I definitely see continuation of $21,000 here. The potential is even higher.
He believes that Bitcoin may surge toward $45,000 as the market conditions ease to some extent, similar to what it did in 2019.
“We’re getting to a stage that we’re going to get continuations on the riskiest assets. We get a relief rally in the bear market, we get a platform like we’re seeing in 2019. And that’s why you start building your portfolio and start accumulating even more. So if we get a rally like that, let’s say towards $35,00, $40,000, $45,000. I think it will be over $30,000, which is really I’m about to give you an incredible opportunity.”
