Michael van de Poppe predicts bitcoin’s growth to $ 40,000

Cryptocurrency analyst and founder of Eight Michael van de Poppe has predicted a short-term rise in the bitcoin rate. According to the expert, the value of the flagship asset may reach $ 40,000 in the near future. The expert emphasized that it will soon be possible to observe high volatility on the virtual asset chart.

According to De Poppe, the trend in the crypto market remains upward. The analyst called it a «vacuum of relief» and stated that «the process is coming to an end.» According to the expert, the market is likely to see the price of bitcoin move to $ 40,000. The expert promised that if the BTC support level at $ 25,000 is tested again, De Popper will buy the flagship asset himself.

As of now, bitcoin is showing minimal growth. The main digital asset is trading at $ 27,998, with a market capitalization of $ 541.4 billion. Bidders secured daily deals worth $ 2.1 billion.

It is worth noting that Michael Van De Poppe recently made a forecast for Ethereum as well. The analyst believes that an important resistance level for ETH is $ 1,850. According to the financier, after reaching this level, the altcoin will roll back to the area between $ 1,680 and $ 1,725. After that, the price of the asset will rise to $ 2,000.

Just like BTC, ethereum has added a little to its price so far. ETH is trading at $ 1,811, and the total supply of coins circulating on the market is $ 218.2 billion. Traders made daily trading deals worth $ 1.1 billion.