The cryptocurrency space has been subject to high volatility after Bitcoin finally surged to $53,000. After hitting this level, the cryptocurrency faced notable declines in its value. However, a crypto analyst has predicted that the price might continue to surge, highlighting the enduring strength of .
BTC Price Needs To Hold Steady
Despite the recent bearish trends seen in the last few days, a prominent crypto analyst, Michael van de Poppe, has an optimistic outlook on Bitcoin’s price. Sharing a BTC price chart, the crypto analyst emphasized Bitcoin’s current
However, he revealed that there is the potential for a more extensive if Bitcoin fails to hold its current resistance area. Reassuring the crypto community, Poppe clarified that although price corrections can be sharp and “nasty,” they typically prove short-lived.
The analyst also that despite the success of the Spot Bitcoin ETF market, relying solely on will not be enough to propel the price of Bitcoin to $100,000 within two months. He affirmed that Bitcoin’s price trend is still very bullish, noting that surges are more likely to unfold gradually over time, rather than in a single rapid moment.
Analyst Projects Bitcoin Surge To $58,000
In his X posts, Poppe highlighted two potential scenarios for Bitcoin’s price movements. The analyst a possible inclination towards a downward trend, emphasizing the critical zones to watch within the $48,000 to $49,500 price ranges.
On the flip side, Poppe revealed that the could also experience a surge to new highs. He explained that if Bitcoin successfully breaches certain high levels, then the cryptocurrency could achieve a local top of $54,000 to $58,000.
Furthermore, the crypto analyst presented a Bitcoin price chart, which illustrated a substantial uptrend for Bitcoin. He anticipated a short-term for the cryptocurrency, followed by a potential price surge to levels close to $60,000.
“I’m expecting a short-term correction before a final push to $54-58K and then we’re likely done with this current pre-halving run,” Poppe .
BTC price recovers above $51,000 | Source: