Bitcoin is predicted to rise to $ 40,000 in the near future

Renowned cryptocurrency analyst Michael van de Poppe has shared a new forecast for the value of the bitcoin cryptocurrency. As the expert told his 659,200 Twitter followers, BTC $56,582.81 Bitcoin -2.35% Market capitalization $1.12 trillion VOL. 24 hours $4.39 billion is showing a huge bullish indicator that could push the market leader to a new high in 2023.

According to van de Poppe, BTC has every chance of rising to $ 40,000 in the near future. However, investors should prepare for a short-term drop ahead of new highs in 2023. «A big signal on the bitcoin chart. Unusual lines, but we are expected to grow significantly ,» the analyst emphasized.

At the end of last week, BTC reached an annual high of $ 31,400. According to many experts, the steady upward trend was driven by strong institutional interest in bitcoin. However, experts believe that it is too early to talk about a full-fledged bull run. Still, the unstable macroeconomic environment and regulatory issues severely constrain the potential of buyers. Despite local successes, bitcoin is still far from its historical high, which was recorded in 2021 at $ 69,000.

Regarding other cryptocurrencies and Michael van de Poppe’s forecasts, the analyst highlighted several promising altcoins that are worth considering as a short-term investment. Among them: Chainlink (LINK), Avalanche (AVAX), and Curve DAO (CRV).

Earlier, De Poppe predicted significant growth for the leading altcoin — the analyst is convinced that ethereum will reach $ 2000. This year, BTC $56,582.81 Bitcoin -2.35% Market capitalization $1.12 trillion VOL. 24 hours $4.39 billion could already boast of such achievements — thanks to the long-awaited Shapella update, the altcoin was trading at $ 2130.