Renowned cryptocurrency expert Michaël van de Poppe, who is well-known for his astute forecasts, recently shared his opinions about the future of Bitcoin (BTC) on X (previously Twitter). With his tweet, Van de Poppe gave cryptocurrency lovers cause for excitement and curiosity by providing a preview of potential future developments for the most well-known cryptocurrency in the world.
Van de Poppe tweeted that the markets were in balance and that the price of Bitcoin was trapped in a range. He said that he would be observing the range-bound construction in the upcoming months and predicted that the market will consolidate before making a breakout towards an all-time high in Q3/Q4 of 2024, after a prehalving run towards $48,000.
https://x.com/CryptoMichNL/status/1754430964762034451?s=20
Bitcoin price rebound scenario
It is anticipated that the next Bitcoin halving will occur in April 2024. In the past, these occurrences have raised scarcity and raised the price of Bitcoin. Van de Poppe’s forecast is consistent with the notion that following the 2024 halving event, the price of Bitcoin may rise significantly.
As for Bitcoin, it peaked in 2021 at an astounding $69,044, setting a record in the process. According to Van de Poppe’s projection, Bitcoin may rise over this prior peak, which would surely draw interest from investors and enthusiasts all across the world.
According to the most recent statistics available, the price of Bitcoin is $43,088, up 0.23% over the previous day. Additionally, there has been a noticeable increase in Bitcoin’s 24-hour trading volume, which has risen by 20.81% to a respectable $15,587,716,556. These figures suggest a resurgence of interest in Bitcoin trading.
According to CoinGlass statistics, open interest in Bitcoin has increased significantly by 3.56% to reach $18.19 billion at this time. The largest open interest is notably held by top exchange Binance, with $3.39 billion, closely followed by Bybit ($2.58 billion) and Bitget ($1.16). This shows how institutional and individual investors’ interest in Bitcoin is expanding.
All things considered, the community is excited about the possibility that Bitcoin may soar to new heights in 2024. Bitcoin aficionados are excited and optimistic about Michaël van de Poppe’s prediction of a prehalving spike to $48,000 and an eventual breakout towards an all-time high in late 2024.
