Bitcoin Price Prediction: BTC Price All Set To Surge Above $40K in Coming Months

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Prominent cryptocurrency analyst and trader, Michaël van de Poppe, has expressed his bullish outlook on Bitcoin (BTC), forecasting a potential surge in the leading cryptocurrency’s price. He is well known for his substantial following on YouTube and believes Bitcoin has the potential to rally by over 30%, reaching a new high of $41,000 in 2023. 

Van de Poppe in his latest Youtube video emphasizes the importance of Bitcoin establishing a clear higher high to sustain its current upward trend. Utilizing the Fibonacci extension tool, which analyzes past corrective movements, he identifies potential price targets. Based on this analysis, he sees a possibility for Bitcoin to rally toward the $41,000 level.

What Next For Bitcoin Price?

He further outlines two potential scenarios for Bitcoin’s next course of action. 

In this scenario, Bitcoin surpasses the recent highs of around $31,500, which acts as a critical resistance level. Following the breakout, Bitcoin may experience a temporary pullback and consolidation phase before initiating a new rally. This consolidation allows the market to stabilize and potentially gather more bullish momentum.

Alternatively, Bitcoin could consolidate in the near term without breaking the recent highs. However, after this consolidation phase, Bitcoin may experience a rapid acceleration in the coming months, surpassing previous highs, including the $42,500 level. 

“So in that case we can start looking at a rally towards $41,000.”

Presently, Bitcoin is trading at $30,737, and his analysis suggests the potential for significant progress in the cryptocurrency’s price.

Based on the analysis of renowned analyst Michaël van de Poppe, Bitcoin has the potential for a substantial rally, with a projected price target of $41,000. However, the price predictions are speculative and do not guarantee specific results. Investors should exercise caution and evaluate many criteria before investing.