Popular cryptocurrency analyst Michael van de Poppe predicts that despite the crypto winter, Bitcoin (BTC) will double in value by 2023.
Michael van de Poppe shared his predictions for 2023 for Bitcoin in a video he posted on his YouTube channel.
According to Famous Analyst Forecast, What Will Bitcoin Value Be in 2023?
Van de Poppe tells his 164,000 YouTube subscribers that Bitcoin is currently trading in a wide range with resistance at $18,600 and support at $12,300.
According to the crypto analyst, BTC bulls have to overcome short resistance points to gain any strength.
“Everything below $18,600 can be classified as a divergence or as a continuation of the trend. If we fail to break above $18,600, we could descend as low as the $12,300 support level. However, the number of people focusing on the support point is a bit high right now, which means we probably won’t get there.”
Van de Poppe says BTC bulls need to push Bitcoin above a key level to trigger a strong short-term squeeze.
The famous analyst suggested that investors who evaluate Bitcoin’s movement in the narrow area with the hope of short-term gains can switch to a long-term direction with a bullish forecast.
Van de Poppe says:
“If we can break $20,600, we will have broken the trend because we are excluding those highs ($20,000). The amount of (short) stops above this resistance level will suffice, meaning that there will most likely be a bull run towards this block. Thus, we will continue to move towards the $29,200 level and possibly the $38,500 level. Because I think we’re just going to get liquidity above here.”
6372
