According to Michael van de Poppefounder and CEO of the trading company Eight, it is very likely that the bitcoin price it reaches $30,000 in November. He says a breakup is expected, but is this a realistic prediction?
Significant progress towards $30,000?
It looks like the volatility compression phases have come to an end and a breakout is in sight for Bitcoin. Moreover, Michael van de Poppe, founder and CEO of the company Eight Global, strongly believes this. He also shared it with his Twitter followers on October 25, 2022 by sharing a tweet about his prediction. For him, BTC price should follow rising curve from next month. Admittedly, on shorter time scales, but an increase all the same. For him, it is very likely that the price of bitcoin will reach the $30,000 next month.
Within 2-3 weeks, #Bitcoin break out significantly.
My take is the upside.
My guess is probably $30K.
— Michael van de Poppe (@CryptoMichNL) October 24, 2022
These significant ones should please the holders of the first cryptocurrency on the market, but also all the investors. It should be noted that van de Poppe is not the first person to be so optimistic about the value of Bitcoin in the near future. In fact, other analysts have recently given bullish forecasts on the price of BTC.
Expected good performance
The price of the BTC/USD pair is marked by a lack of volatility. However, analysts have seen signs that could indicate that the sideways trend will change in the coming weeks.
If we refer to the Bitcoin Bollinger bands against the Nasdaq, we understand that it is tight. For many crypto analysts, including TechDev, it is one of the most severe in history. To him and the others, this means only one thing: strong rise in BTC. On Twitter, he pointed out in particular that the price of BTC against the Nasdaq peaked in April 2021. As a reminder, this is the same period when we noticed a strong impulse in BTC. This was followed by a consolidation and correction phase that lasted over a year and a half. For TechDev, all signs point to a breakout and a strong rally for Bitcoin in the coming months.
For his part, van de Poppe, also sees positive signs. He believes BTC’s upside potential is much more comfortable than the idea of a bearish turn. According to him, the pair BTC/USD expected to gain up to 35% in the coming weeks.
“Within 2-3 weeks, bitcoin will make significant progress…” “My estimate is probably $30,000.”
Final lift for 2022
So van de Poppe predicts a step up for BTC. This, within 2 to 3 weeks. For him, the $30,000 asset shouldn’t be too difficult to reach. If this were to be confirmed, then it would be more than the rally announced by the famous analyst il Capo of Crypto. As a reminder, he announced for a few months that the price of Bitcoin was to be set at $21,000. However, before trading began on Wall Street, he suggested that the $21,000 area should be visible this week.
For him, the market is good for one last upside move. In a tweet, he said, among other things, that higher highs are expected in the coming days on the one hand. On the other hand, to higher reductions in ltf and the revised up demand.
In summary, for most analysts, the Bitcoin bullish case is very possible. The company Glassnode, specialized in the analysis of the chain, also shared its feelings. This is more about long term holders (LTH) and buyers on exchanges than BTC price.
Loaders wait and sign
According to him, exchanges are seeing large amounts of BTC leaving. For their part, the hodlers continue to cling to BTC, hoping for a strong comeback with every upward or pseudo-upward move. Also according to Glassnode, supply flow from exchanges and into Hodlers wallet is higher than ever.
There was quite a feast. How many famines will come? pic.twitter.com/gCaM4unVqD
—Bitcoin (@Bitcoin) October 25, 2022
The faith of the hodlers in Bitcoin is quite unshakable. More than ever, they are waiting for a possible increase for the last quarter of 2022. If the short-term forecasts remain reasonable enough, longer term predictions are more ambitious. In fact, some analysts do not hesitate to put forward an almost price $2 million by 2028.
On the same subject: Bitcoin outperforms almost all assets in Q3, an explosion in sight in Q4?