Bitcoin (BTC) is regularly the subject of new speculation. This is normal: not only is the flagship crypto popular, but it has also been on the rise in recent weeks. Some believe that the asset is destined to climb a new level.
Bitcoin at $40,000: an auspicious goal?
Recently, bitcoin skyrocketed to $30,000 in just a few days. Even though it subsequently dropped to currently stand at status quo, it still holds great promise. Many analysts expect the asset to experience new heights of growth.
This is particularly the case with Michaël van de Poppe, the CEO of trading firm Eight. According to the official, bitcoin has significant potential to reach a valuation of $40,000. According to him, there would be good signs to explain this.
Essentially, these are tied to the 200-period moving average (Average 200) and Exponential Moving Average (EMA). Analyzing these two indicators, van de Poppe believes that bitcoin prices show some level of weekly consistency.
“Bitcoin surges higher and tests $27,600. Good signs. On a weekly basis, the price is holding at the 200 average and the EMA. I think we continue towards $38,000-42,000 from here,” the manager said.
According to the boss, these data are of good quality regarding the expectations of investors in relation to the bitcoin market. And he’s not the only one to think so. Popular trader Kaleo shares the same conclusions. “The crypto market is booming, and it is growing. And yes, $40,000 is still a magnet,” he said in particular.
In any case, bitcoin is the subject of many expectations in terms of valuation. Many are the analysts who think that it will again break through, no offense to detractors like Warren Buffett.
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