BTC Will Rise to $40K in the Next Few Months, Says Expert Trader

  • The veteran trader also shared that BTC will have an opportunity to rise to $40K in the next few months.
  • In related news, the price of BTC has risen to above $28K in the last 24 hours.

The respected crypto trader Michael van de Poppe (@CryptoMichNL) tweeted his latest technical analysis for Bitcoin (BTC) this morning. According to the tweet, the crucial price level at $27,900 for BTC held which caused the market leader’s price to soar to $28,700 overnight.

The trader concluded the tweet by sharing that consolidation at this point will make it likely that BTC’s price will continue to rise to $30,000 in the coming days.

In a video analysis uploaded by van de Poppe yesterday, the trader did an in-depth analysis for BTC where he set his upside target for BTC between $40K-$45K. In his analysis, van de Poppe shared that he believes that the Dollar Currency Index will experience a strong correction in the coming weeks, which will be bullish for higher-risk assets such as crypto and BTC.

The trader also stated that BTC will have a window of a few months wherein it will rally before experiencing a correction and then continuing to rally. Van de Poppe justified this statement by stating that the window will only exist until the Fed performs a pivot with its monetary policy, which he believes will happen in a few months as we approach the end of the interest rate hike phase.

At press time, the price of BTC remains above the $28K mark at $28,517.96 according to CoinMarketCap. This is after it printed a 24-hour gain of 1.69%. This 24-hour gain has flipped BTC’s weekly price performance into the green – taking the current weekly price performance to +1.50%. BTC’s total market cap is estimated to be $551.572 billion as a result.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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