After maintaining a notable upswing during the previous day’s trade, the Bitcoin price corrects itself slightly by dropping by more than 4%. While the trading volume remains relatively high, the possibility of mounted selling pressure over the token since the early training hours.
However, a popular crypto analyst, Micheal van de Poppe, in his new video believes that the BTC prices still can reach $30,000 in the near future.
The BTC price is expected to drop back to the $17,500 and $17,700 range after reaching the monthly highs at $18,000. From these levels, the star crypto is likely to soar high, breaking through the key resistance levels at $18,300.
“We get a smackdown towards $17,500 to $17,700. That is the range where you want to start buying and then we can see continuation. The moment we crack the crucial resistance, which is the area at $18,300, we are back into this range and most likely we start overshooting quite fast…so then I’m definitely looking at a $21,000 continuation here. Potential even higher.”
He believes that Bitcoin may surge toward $45,000 as the market conditions ease to some extent, similar to what it did in 2019.
“We are getting into a stage that we most likely are going to get a continuation on the risk-on assets. We get the bear market relief rally, we get a stage like we have been seeing in 2019. And that’s why you can start building your portfolio and can start accumulating even more. So if we get such a rally, let’s say towards $35,00, $40,000,$45,000. I think it will be overshooting $30,000, that is actually going to give you an incredible opportunity,”
