Bitcoin Breakout Imminent! BTC Price Will Surge To This Level in the Next 2-3 Weeks!

The post Bitcoin Breakout Imminent! BTC Price Will Surge To This Level in the Next 2-3 Weeks! appeared first on Coinpedia Fintech News

Since reaching an all-time high in November of last year, the price of bitcoin has fallen by more than 70%, keeping cryptocurrency prices down. The bitcoin price is currently stuck at $19,000 for the past seven days. The positive trend’s reversal represents the continuance of the same pattern as in the past. The market has tried multiple times to pick up steam but hasn’t been successful.

Despite a rise in the US stock market, Bitcoin has not increased in value and seems to be in a holding pattern. The BTC/USD is anticipated to increase, if not immediately, then soon after, given the good link between US stocks and Bitcoin.

Michael Van De Poppe, an analyst, predicts that Bitcoin will break out in the next two to three weeks. He expects Bitcoin to increase by more than 40% over the next several days and reach the $30k level, despite the fact that BTC is still consolidating near the $19k level.

Earlier, the analyst had predicted, “Still have the same view on #Bitcoin here. Needs to crack resistance at $19.6K, and then we’ll start the run toward $20.7K and potentially higher. The Dollar and Yields showing some slight weakness today. All eyes on PMI in a bit.”

For most of this year, Bitcoin has accompanied stock markets. However, the value of risky assets has decreased since the Federal Reserve tightened monetary conditions to fight inflation. Last week, the cryptocurrency data provider Kaiko published a report demonstrating that for the first time in two years, the 20-day realized volatility of Bitcoin has fallen below that of the Nasdaq and the S&P 500.