Bitcoin (BTC) Rebounds: Expert Analysis Predicts Potential Upside After 20% Market Dip
- Bitcoin, the world’s leading cryptocurrency, is currently experiencing a significant downturn. However, renowned crypto analyst, Michael van de Poppe, predicts that the cryptocurrency may be nearing the end of its correction phase, with potential upsides to follow a price bottom.
- Poppe suggests that Bitcoin’s anticipated bottom is finally closing in, and despite the current pessimistic outlook, the potential for a price rebound could emerge if BTC hits its bottom.
- During Bitcoin’s period of consolidation, altcoins could see increased activity, potentially taking over the market until BTC breaks all-time high, according to Poppe.
Bitcoin may be nearing the end of its correction phase, with potential upsides to follow, according to renowned crypto analyst, Michael van de Poppe. He also suggests that altcoins could see increased activity during Bitcoin’s consolidation period.
Analyst Suggests Bitcoin Bottom Closing In
In a recent post, Poppe declared that Bitcoin was at the end of its correction phase, suggesting that the cryptocurrency’s anticipated bottom was finally closing in. The crypto analyst disclosed that BTC was down by 20% from its all-time highs in March 2024, predicting further declines possibly driven by market volatility and investor sentiment. As of writing, the price of the cryptocurrency is trading at $57,719, reflecting a weekly decline of 9.53%, according to CoinMarketCap.
Potential Upside if Bitcoin’s Price Correction Persists
Poppe further confirmed that Bitcoin had largely completed its downward trend. He anticipates another 5% to 10% dip, clarifying that it may t... Read the full article for FREE at COINOTAG!
