Bitcoin could know a massive fixFor go down to $28,000, before continuing to climb. This is the opinion of Michaël van de Poppe, founder and CEO of MN Trading BV. For him, the bitcoin bull run is already activated.
Conditions for a BTC bull run
Our colleague recently shared a statistical analysis of bitcoin. In it, he highlighted the confirmation of an early corrective move.
Michaël van de Poppe also spoke about bitcoin on Twitter.
” Bitcoin takes this scenario into account. I think $28,500 is a great starting point, the lower the better, but I think that’s the area where you want to get it before we continue towards $40,000. »
Resuming this tweet, Cointelegraph put forward the prediction of a possible drop in bitcoin price. It can go up to $2,000. Should a retracement at $28,000 materialize, traders will be on the lookout for opportunities to “ buy to dip (buying low) will be elated.
However, yesterday, June 22, volatility forgot that it is one of the characteristics of bitcoin. And we will also note that the Fête de la Musique was decisive for the queen of cryptocurrencies. She has passed the $30,000 mark for the first time occasionally. While this performance, she was only able to reproduce it in the middle of April.
Many are waiting a modest correction to make a profit with a view to new long positions.
” The price seems to stagnate a bit, which suggests that we could have bottom buying opportunities soon. We personally watch the $29,000 and $28,000 courses – ready to bid if we get there “, he specified.
Have we entered a bull run?
Michaël van de Poppe confirmed this by tweeting “ Welcome to the bull cycle ” yesterday.
For Glassnode, this return to the key resistance of $30,000 comes as no surprise.
” Historically, extremely tight trading ranges have preceded large and volatile moves in either direction. Thus, the 30-day Bitcoin price range can be used as a predictive indicator to detect upcoming volatility, with the latest rally being no exception.. »
Also not to forget that thegrowing interest from institutions for the Bitcoin ETF partly boosted the bitcoin bull run. Valkyrie, Blackrock, Invesco, WisdomTree, Deutsche Bank… so many heavyweights whose recent protests have impacted the price of the flagship crypto.
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