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Prominent cryptocurrency analyst and trader Michael van de Poppe participated Bitcoin chartalong with his near-term price forecast – which is bullish.
This expectation comes as the largest cryptocurrency in the world by market capitalization has rebounded over the past two days by a little more than 7% and for a moment approached $98,000.
Bob says Bitcoin could test $100,000 in the coming days
Michael van de Poppe shared a Bitcoin chart, saying that Bitcoin had a tremendous weekly performance. Since Monday, the leading cryptocurrency has risen by 7.25%, rising from around $90,700 and reaching the $97,270 region today.
Bob stated that he "wouldn't be surprised by a $100,000 test in the coming days."
Tom Lee Says Bitcoin Could Drop to $50,000
Tom Lee, Fundstrat's chief strategist, spoke in a CNBC studio earlier this week. In response to what might happen to Bitcoin in the near future, Lee stated that he and a technology analyst at Fundstrat expect Bitcoin to fall to the $70,000 level. As for Bitcoin trading above the $90,600 area earlier this week, he described it as a “normal 15% correction” for highly volatile assets like Bitcoin.
However, he mentioned another scenario, where Bitcoin could fall to as low as $50,000, then rally from it and start rising again. Overall, Lee believes that BTC is likely to be one of the best performing assets this year, and by the end of 2025 it will reach $250,000.
So far, Bitcoin has recovered and is trading at $98,400, after printing a large green candle on the hourly chart. The recovery began after news emerged of the next US president's decision to change his approach to the trade tariff issue and before the release of key inflation indicators, the Consumer Price Index and the Producer Price Index, which are expected to be higher than in December.
Related to
MicroStrategy provides huge returns of BTC to its holders
On Tuesday, founder and CEO of business giant MicroStrategy Michael Saylor tweeted that over the past week, MSTR treasury activities have declined It generated a profit of 1,440 BTC for MSTR holderswhich comes out to $138.2 million (given the exchange rate of $96,000 on Tuesday when the tweet was posted).
This represents a gain of 0.32 BTC for the total amount of approximately 450,000 BTC owned by MicroStrategy after announcing two large BTC purchases in January so far.
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