Michael van De Poppe: Bitcoin will rise to $ 300,000 after halving

Cryptocurrency analyst Michael Van de Poppe suggests that bitcoin BTC $58,634.83 Bitcoin -2.51% Market capitalization $1.16 trillion VOL. 24 hours $2.96 billion is still facing critical resistance. If the barrier is overcome, the trader believes that we can expect the movement to new historical highs to continue.

«Bitcoin is at $ 70,000 before halving. Probably $ 300,000 in this cycle,» De Poppe warns.

According to the market analytics platform Santiment, bitcoin is showing a positive signal based on the historical factor. In its recent analysis, the crypto analytics firm noted that despite bitcoin’s significant 150% growth since October, the market leader is likely to lose momentum.

«Is the cryptocurrency still in a bull market after bitcoin’s price has risen 144% since October 15? If you believe the crowd, the belief in this has significantly decreased. Historically, less long-term optimism increases the likelihood of further market growth,» crypto experts explain.

«It was an atypical weekend, as the price was basically rising all weekend instead of just hovering at the same level,» says Daan Crypto Trades trader. - «We saw similar price action several times during our initial move to 70K. We often saw a quick wick after the futures reopened, only to go back up again.»

As of the morning of April 8, the main cryptocurrency was up just over 0.6% and trading at $ 69,717. The total number of coins circulating on the market amounted to $ 1.3 trillion. Traders made daily trading deals worth $ 20.8 billion. BTC’s dominance in the market amounted to 52.8%.