“Expert Forecast on Bitcoin: Is a New Record High Coming Before the Halving?”
Expert Predicts New Record-Breaking Bitcoin Growth
Michael Van De Poppe, a well-known cryptocurrency expert, is making bold predictions about Bitcoin (BTC), suggesting that the most popular digital currency could reach a new all-time high before the upcoming Halving event.
Market Activity and Price Forecasts
Currently, the price of Bitcoin shows signs of downward activity, which may influence negative sentiment in the market in the coming days. Van De Poppe has identified two crucial levels: $67,000 as a key support and $71,700 as the final breakthrough level towards the peak.
The expert expresses confidence in his forecast, suggesting that Bitcoin will experience growth before the upcoming Halving event. He also advises caution to investors, pointing out the need to avoid catching large green candles, instead recommending entering the market after a price drop of 15-40%.
Investing in Altcoins
Van De Poppe highlights the investment potential of altcoins, ensuring that it is worth considering buying them after price drops of 25-60%. He indicates that alternative cryptocurrencies can be an interesting option in an investment portfolio.
Current Market Situation
The recent peak of Bitcoin reached $73,000 in March, but the price has since dropped by almost 10%. Some corrections are related to the flow of funds into U.S. Bitcoin ETF exchanges, which are gradually starting to calm down. It is worth noting that Grayscale GBTC recorded a one-day net outflow of $302 million, which may impact short-term price fluctuations.
Potential Market Changes
On Monday, Bitcoin-related products had a total net outflow of $85.84 million, but BlackRock IBIT recorded a net inflow of $165 million. The cumulative net inflow for BTC spot ETFs currently stands at an impressive $12.04 billion. These changes could affect long-term price trends in the cryptocurrency market.
