Bitcoin Price Could Surge Over 70% in 2015-Style Rally, Says Analyst Michaël van de Poppe

Crypto analyst Michaël van de Poppe predicts Bitcoin (BTC) price to surge over 70% in 2023

Bitcoin may be repeating a pattern from 2015, analyst Michaël van de Poppe tells YouTube subscribers

Bitcoin may be repeating a pattern from 2015, when the cryptocurrency remained in a sustained trading range before a big upside move ahead of the 2016 halving event, according to analyst Michaël van de Poppe.

Van de Poppe, who has 162,000 subscribers on YouTube, told his followers that Bitcoin is "building a beautiful range" which is "very much comparable to the price action we witnessed in 2015."

The next halving event, which happens every four years, is expected in April 2024, when miners' rewards are cut in half.

Van de Poppe said he is keeping a close eye on the 200-week exponential moving average (EMA), which he says is now acting as support. He suggests Bitcoin's market correction is over and the king crypto will now retest range highs, which could send it more than 70% higher than its current value.

"I wouldn't be surprised with a Bitcoin pre-halving to be as high as $45,000. That is most likely the case here..." he said.

"The chances that we're going to retest the 200-week EMA are relatively slim. So if we hold above a few crucial levels, I think we're going to continue with the upward momentum."

According to van de Poppe, one likely scenario that could play out for Bitcoin is a rally to about $32,141 next month, a retest to about $28,700, followed by a breakout to higher levels.

Bitcoin is trading for $26,470 at time of writing, up 1.2% in the last 24 hours.

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Sep 15, 2023

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