Bitcoin (BTC) Price To Hit This Bottom Level Before Surging Above $30K

The post Bitcoin (BTC) Price To Hit This Bottom Level Before Surging Above $30K appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The world’s largest cryptocurrency by market cap, Bitcoin is still under the price range of $20,000 while the overall market is kind of flashing an optimistic vibe with the August United States jobs report.

While the flagship currency struggles for an uptrend, there are speculations about Bitcoin attaining the bottom along with its further price movements.

A well-known crypto analyst and trader, Michael van de Poppe claims that before Bitcoin experiences any bull run, Bitcoin will see another dip. Explaining his claims, the analyst said that the Bitcoin price will fall as low as $19,300 before regaining the bull run around $28,000 or $30,000.

While talking about Bitcoin’s current price movements that are fluttering between $19,000 and $21,000, Van de Poppe asserts that this might see liquidity grabs much below the level. He also claimed that if Bitcoin had to enter a bull run, the currency should move above $20,400 targeting $21,500.

Bitcoin Price To Enter Bull Run

Meanwhile, the strategist is of the opinion that Bitcoin has reached its bottom and the currency might start its bull run anytime soon. However for this to happen, BTC should achieve the said target and should hold on to the 200-week moving average in market cap.

At the time of writing, Bitcoin is selling at $19,754 with a surge of 0.39% over the last 24hrs.

On the other hand, Bitcoin and the overall crypto market are experiencing a positive run with the US payroll data. Conversely, most market analysts and experts predict the positive job market could worsen the current market condition.