Analysts have named the next level of growth of the bitcoin cryptocurrency

Famous crypto analyst Michael van de Poppe has attracted the attention of the crypto community with his latest tweet, predicting a significant increase in the value of bitcoin. According to the expert, BTC $62,924.40 Bitcoin 2.12% Market capitalization $1.24 trillion VOL. 24 hours $1.36 billion is preparing to test the $ 75,000-$ 80,000 range before the upcoming halving.

According to van de Poppe, bitcoin is currently in a consolidation phase, and the expert believes that it is approaching the peak of its current growth. Michael van de Poppe expects another test of the all-time high (ATH), possibly at $ 75,000 to $ 80,000, before a halving, followed by a correction phase.

The upcoming halving, scheduled for April 20, 2024, has become an important topic in the cryptocurrency world. During the halving, the reward for miners who create new blocks and keep the network running is halved. With each halving, the price of bitcoin increases, as the reduction in the number of BTC creates additional demand for the digital asset. About a year after the halving, the price of the main cryptocurrency reaches a new high (ATH).

Michael van de Poppe also believes that altcoins are ready for a massive rally in the coming months. «A very large-scale correction in the capitalization of the altcoin market, which is likely to break through to highs in the coming months while bitcoin consolidates,» the analyst emphasized.

As a reminder, Michael van de Poppe identified three potential scenarios for the medium-term future of bitcoin. One of them is a correction phase. If that happens, De Poppe suggests $ 52,000 and $ 45,000 as potential support levels for bitcoin, areas where the price could find buyers and bounce back.