Bitcoin (BTC), the world’s foremost cryptocurrency by market capitalization has continued to fascinate investors per its price performance. Prominent crypto analyst Michaël van de Poppe is the latest to study the digital asset and has pegged the support range for the price this week between $63,000 and $64,500.
Michaël van de Poppe’s Analysis on Bitcoin
Notably, Van de Poppe says that based on his analysis of the asset’s performance, there is a crucial support zone for Bitcoin. As per his observation, Bitcoin is currently trading within a range of $57,000 to $73,000. He, however, anticipates a downward trend in the early part of the week.
#Bitcoin remains stuck between $57K-73K and I expect it to continue falling in the first part of the week.
My personal area of support is between $63-64.5K. That area should hold to me. pic.twitter.com/JZkeiWzJyv
— Michaël van de Poppe (@CryptoMichNL) June 17, 2024
van de Poppe pinpointed that his personal support range remains between $63,000 and $64,500. The analyst urged investors to watch out for these figures as he was confident that this zone should act as a significant support level.
According to data from CoinMarketCap, Bitcoin is trading at $65,683.49, down 1.03% in 24 hours. This is over $1,500 more than the upper band of van de Poppe’s support level range but within the trading zone. Although several crypto enthusiasts have made bullish predictions on Bitcoin, the price of the digital asset is yet to breach the all-time-high figure above $73,000 it reached in March.
BTC ATH Predictions
A top Bitcoin analyst Charles Edwards believes BTC is yet to rally up to the $100,000 mark anticipated due to long-term holders selling amid a liquidity crunch.
On their part, Bernstein analysts are cautiously bullish with the digital asset price target which they projected will hit $90,000 this year. As per their report, Bitcoin cycle high could reach $150,000 by 2025. The forecast also predicts a notable growth rate for digital assets.
Other notable bullish price predictions are from Bitcoin promoter and legendary trader, Peter Brandt who anticipates a new all-time-high of $130,000 to $150,000 by August/September next year.
Renowned author Robert Kiyosaki also has a rather bold prediction for Bitcoin to hit $330,000 by August this year. Regardless of these predictions, analysts maintain that Bitcoin is like a wild beast that cannot be tamed and advised investors to be observant and secure their wallets.
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