Bitcoin Price Poised To Hit $50,000, This Crypto Expert Predicts

Christian Encila

2 years ago

3 mins read

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Bitcoin price trajectory over the next few months is the subject of some bold predictions from top crypto analyst, Michaël van de Poppe. According to him, BTC is showing promising signs against the 200-week exponential moving average (EMA) and the 200-week moving average (MA), despite the recent crashes that have shaken the crypto space.

Van de Poppe is confident that Bitcoin will make significant gains, with his projections even suggesting that the top cryptocurrency could hit $50,000.

The question remains, however: how will Bitcoin achieve this impressive feat?

Bitcoin Price Rally: Road To $50K

Van de Poppe has acknowledged the challenging path ahead for Bitcoin, suggesting that it needs to dip before it can make significant gains. In contrast, he recommends altcoins such as Ethereum (ETH) as more promising investments currently.

Regarding Bitcoin, he notes that the crypto market capitalization is presently above the 200-EMA and 200-MA, indicating that it is unlikely to drop below these levels anytime soon.

“All things taken into account, including FTX, Voyager, Celsius, LUNA and 3AC, we’re up from $15,000 to $28,500,” he wrote.

Michaël van de Poppe. Image: Coinpedia.

Van de Poppe predicts that the market will probably continue to climb, potentially reaching “$40,000 to $50,000 in the coming months.”

The total market capitalization of #crypto is above the 200-EMA and 200-MA.

Usually, it doesn’t come back beneath.

All things taken into account, including FTX, Voyager, Celsius, $LUNA and 3AC, we’re up from $15,000 to $28,500.

Probably we’ll continue to $40-50K coming months pic.twitter.com/pvWmcMSd9m

— Michaël van de Poppe (@CryptoMichNL) April 6, 2023

Van de Poppe Suggests Support Sweep BTC Needs To Overcome Resistance

According to Van de Poppe, Bitcoin is currently hovering just below its major resistance level of $28,600. To overcome this hurdle, he suggests that a sweep in support is necessary, with the critical level being at $27,600. If the support holds, Bitcoin could potentially bounce back up and continue its ascent until either $27,600 or $28,600 is tested again.

At the time of writing, BTC’s price on Coingecko sits at $28,075, reflecting a slight 0.1% decrease in the last 24 hours but a 0.1% increase in the last seven days. It sits below the resistance level Van de Poppe pointed out. Over the last 14 days, however, BTC has seen a 1.3% decrease, but it has rallied by an impressive 26.4% over the last 30 days.

Crypto total market cap losing a few digits at $1.13 trillion on the daily chart at TradingView.com

Despite some volatility and fluctuations, the crypto market has shown remarkable resilience and growth over the past few months, attracting increasing interest from investors and the wider public alike. This interest has even doubled in the wake of the banking crisis the U.S. is grappling with right now.

Overall, while Bitcoin may face some resistance in the short term, Van de Poppe’s analysis suggests that there is still potential for continued growth in the cryptocurrency market.

-Featured image from The Motley Fool

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.