Analyst Cites Favorable Market Trends That Could See Bitcoin Touch $300,000 This Cycle
Amid the renewed strength recently displayed by Bitcoin, Michael Van De Poppe, a recognized cryptocurrency analyst and trader has offered an intriguing prediction for BTC, highlighting that the crypto asset is likely to reach the $300,000 threshold in this bull cycle.
Bitcoin Price Targetted At Unprecedented Heights This Cycle Over the past month, the price of Bitcoin has been consolidating and hasn’t been able to sustain its rise beyond its new peak of $73,000.
However, things could soon be changing, as Michael Van De Poppe expects the coin to surge immensely in the short term.
His forecast coincides with anticipation around the upcoming Bitcoin Halving expected to take place in less than 12 days, fueling optimism within the crypto community.
Related Reading: 12 Days Until Bitcoin Halving: Why $100,000 Isn’t Much Further Away According to the expert, the largest cryptocurrency asset by market cap is still experiencing significant resistance.
Nonetheless, if Bitcoin manages to break out of this zone, the coin could witness a progression towards new all-time highs in the coming months.
Given that BTC achieved the $70,000 price level ahead of the halving event, Poppe believes that it is likely to surge to unprecedented levels, particularly topping out at $300,000 in this bull run.
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