Michael van de Poppe predicts Bitcoin to double in value in 2023

Cryptocurrency analyst and founder of Eight, Michael van de Poppe, shared his thoughts on the future of the flagship digital asset on his YouTube channel. Despite the widespread negative sentiment, Poppe believes that BTC $96,008.97 Bitcoin -0.72% Market capitalization $1.9 trillion VOL. 24 hours $2.29 billion will see double growth as early as 2023.

According to the analyst, bitcoin is currently trading in a wide range with resistance at $ 18,600 and support at $ 12,300. To get a growth momentum, BTC needs to overcome the resistance range. Poppe expects that in 2023, bitcoin will be able to reach $ 38,500, which is 2.2 times more than the value of BTC at the time of writing.

«If we can break through $ 20,600, we will break the trend. After that, BTC will most likely meet the price of $ 29,200 and will probably continue to move towards the block around $ 38,500,» Michael van de Poppe shared his point of view.

The trader’s current forecasts are much more positive than a month ago — at the end of November, Michael van de Poppe predicted that the BTC would fall to $ 10,000. At the time, he noted that people used to want digital gold to fall to $ 20,000 in order to buy as much cryptocurrency as possible. Now, he said, traders dream of selling their virtual assets to buy bitcoin for $ 10,000.