Bitcoin has surpassed $30,000 for the first time in two months, following reports that several giant companies are applying for a spot Bitcoin ETF in the US.
According to cryptocurrency analyst Michaël van de Poppe, who has more than 650,000 followers on Twitter, Bitcoin is expected to see some consolidation shortly after hitting above $30,000.
Van de Poppe's analysis suggests that Bitcoin could test resistance around $30,000 before stabilizing and leading to a rally in altcoins. He also does not foresee a big drop below $28,000 in the short term.
Van de Poppe explained his thoughts as follows:
“I expect to see consolidation relatively soon.
I think we'll get past the $30,000 and sweep the hills and calm down.
I don't expect a major correction, probably a low of $28,000 and then altcoins will accelerate until the new momentum starts.”
What I'm expecting for #Bitcoin?
I'm expecting to see consolidation relatively soon.
I think we'll be sweeping $30K, sweep the highs and calm down.
Not expecting a massive correction, probably $28K the lowest, and then, until the new acceleration starts -> #Altcoins pace up. pic.twitter.com/tnIfLo0pQW
— Michaël van de Poppe (@CryptoMichNL) June 21, 2023
*Not investment advice.
