Bitcoin Next Stop $80,000? Crypto Analyst Sees BTC Soaring Ahead Of 2024 Halving

In preparation for Bitcoin‘s halving scheduled for April 2024, there’s been increased chatter about the digital currency’s potential price direction. Notably, cryptocurrency analyst Michaël van de Poppe has recently weighed in with his insights.

Next Stop $80,000?

On X’s recent post, Van de Poppe expresses his belief that Bitcoin is about to experience a significant surge, potentially reaching prices between $75,000 and $80,000 before the upcoming halving occurs.

Based on the present consolidation stage of Bitcoin, there’s a sign that it could challenge its record peak once more, possibly leading to a downward correction afterwards.

#Bitcoin consolidating.

Based on my assessment, we might be nearing the highest point for this price trend. However, I believe there may be another all-time high (ATH) test in the future, potentially reaching prices between $75,000 to $80,000 before a correction occurs.

During that consolidation / correction phase, I expect altcoins to outperform.

— Michaël van de Poppe (@CryptoMichNL) March 27, 2024

Significantly, Bitcoin’s halving has a major impact on its market behavior, acting as a key moment in history that typically alters Bitcoin’s price trends.

In April 2024, the reward for mining new Bitcoin blocks will be cut in half. This means fewer new Bitcoins will be added to circulation each day.

Every four years or so, this occurrence is expected to cause a shortage, increasing both demand and potentially the cost beyond previous trends.

Bullish On Bitcoin

Other crypto analysts, including Jelle, have joined Van de Poppe in expressing optimistic views about Bitcoin’s price movement. According to Jelle’s analysis, Bitcoin may experience a substantial increase and could reach over $100,000 sooner than previously anticipated.

Doctor Profit shares the optimistic viewpoint, emphasizing the significance of observing Bitcoin’s present market trends. He labels the recent price fluctuations as an accumulation period that could lead to a significant price jump surpassing $80,000 and potentially reaching $100,000.

#Bitcoin – What’s Next?

The big Sunday report, all you need to know:

Last week’s analysis suggested a potential period of lateral movement for Bitcoin in its bigger picture. And indeed, Bitcoin has been following this trend by moving within this range as of now.

— Doctor Profit (@DrProfitCrypto) March 24, 2024

In this situation, the importance of accumulation cannot be underestimated. According to NewsBTC’s latest update, there has been a rise in the number of wallets containing 1,000 Bitcoins or more. This trend points towards larger investors and institutions preparing for potential developments following the Bitcoin halving event.

Despite the significant increase in Bitcoin’s total accumulation over the past period, its value dropped by almost 2% within the last 24 hours, now sitting under the $70,000 mark.

Bitcoin Next Stop $80,000? Crypto Analyst Sees BTC Soaring Ahead Of 2024 Halving

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2024-03-28 00:40