{"id":576153,"date":"2024-02-22T00:05:37","date_gmt":"2024-02-22T00:05:37","guid":{"rendered":"https:\/\/uniquehot.com\/?p=576153"},"modified":"2024-06-11T08:11:56","modified_gmt":"2024-06-11T08:11:56","slug":"bitcoin-holds-above-50000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-holds-above-50000\/","title":{"rendered":"Bitcoin Holds Above $50,000 Despite Nasty Drop, Crypto Expert Says Local Top Not In"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The cryptocurrency space has been subject to high volatility after Bitcoin finally surged to $53,000. After hitting this level, the cryptocurrency faced notable declines in its value. However, a crypto analyst has predicted that the price might continue to surge, highlighting the enduring strength of <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-will-hit-100k-this-june-kiyosaki\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin\u2019s upward momentum<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<h2>BTC Price Needs To Hold Steady<\/h2>\n<p><span style=\"font-weight: 400\">Despite the recent bearish trends seen in the last few days, a prominent crypto analyst, Michael van de Poppe, has <\/span><a href=\"https:\/\/x.com\/cryptomichnl\/status\/55935858?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">maintained<\/span><\/a><span style=\"font-weight: 400\"> an optimistic outlook on Bitcoin\u2019s price. Sharing a BTC price chart, the crypto analyst emphasized Bitcoin\u2019s current <\/span><a href=\"https:\/\/bitcoinist.com\/1-trillion-market-cap-achieved-as-bitcoin-hits-51k-dogecoin-faces-a-strong-challenger\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">position above $50,000, which shows strength.\u00a0<\/span><\/a><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-rally-to-0-2\/\">Dogecoin Begins Massive Recovery Trend, But Can These Factors Drive A Rally To $0.2?<\/a><\/div>\n<p><span style=\"font-weight: 400\">However, he revealed that there is the potential for a more extensive <\/span><a href=\"https:\/\/bitcoinist.com\/will-bitcoin-hit-turbulence-40-correction-eyed-before-reaching-150000-analyst-warns\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">price correction<\/span><\/a><span style=\"font-weight: 400\"> if Bitcoin fails to hold its current resistance area. Reassuring the crypto community, Poppe clarified that although price corrections can be sharp and \u201cnasty,\u201d they typically prove short-lived.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The analyst also <\/span><a href=\"https:\/\/x.com\/cryptomichnl\/status\/14419984?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">disclosed<\/span><\/a><span style=\"font-weight: 400\"> that despite the success of the Spot Bitcoin ETF market, relying solely on <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-etfs-record-2-2-billion-inflow-in-past-week\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">ETF inflows<\/span><\/a><span style=\"font-weight: 400\"> will not be enough to propel the price of Bitcoin to $100,000 within two months. He affirmed that Bitcoin\u2019s price trend is still very bullish, noting that surges are more likely to unfold gradually over time, rather than in a single rapid moment.<\/span><\/p>\n<h2>Analyst Projects Bitcoin Surge To $58,000<\/h2>\n<p><span style=\"font-weight: 400\">In his X posts, Poppe highlighted two potential scenarios for Bitcoin\u2019s price movements. The analyst <\/span><a href=\"https:\/\/x.com\/cryptomichnl\/status\/75442953?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">suggested<\/span><\/a><span style=\"font-weight: 400\"> a possible inclination towards a downward trend, emphasizing the critical zones to watch within the $48,000 to $49,500 price ranges.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/xrp-price-will-rally-to-2\/\">XRP Refuses To Back Down As Crypto Analyst Identifies When Price Will Rally To $2<\/a><\/div>\n<p><span style=\"font-weight: 400\">On the flip side, Poppe revealed that the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-10-million-in-10-20-years\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">price of Bitcoin<\/span><\/a><span style=\"font-weight: 400\"> could also experience a surge to new highs. He explained that if <\/span><span style=\"font-weight: 400\">Bitcoin<\/span><span style=\"font-weight: 400\"> successfully breaches certain high levels, then the cryptocurrency could achieve a local top of $54,000 to $58,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, the crypto analyst presented a Bitcoin price chart, which illustrated a substantial uptrend for Bitcoin. He anticipated a short-term <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-150000-40-correction\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">correction<\/span><\/a><span style=\"font-weight: 400\"> for the cryptocurrency, followed by a potential <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-bulls-persists-analyst-identifies-trend-as-catalyst-to-60000\/\"><span style=\"font-weight: 400\">price surge<\/span><\/a><span style=\"font-weight: 400\"> to levels close to $60,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cI&#8217;m expecting a short-term correction before a final push to $54-58K and then we&#8217;re likely done with this current pre-halving run,\u201d Poppe <\/span><a href=\"https:\/\/x.com\/cryptomichnl\/status\/03811854?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">stated<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/gCxX3p1h\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC price recovers above $51,000 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Bookings Institutional, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency space has been subject to high volatility after Bitcoin finally surged to $53,000. After hitting this level, the cryptocurrency faced notable declines in its value. However, a crypto analyst has predicted that the price might continue to surge, highlighting the enduring strength of Bitcoin\u2019s upward momentum.\u00a0 BTC Price Needs To Hold Steady Despite the recent bearish trends seen in the last few days, a prominent crypto analyst, Michael van de Poppe, has maintained an optimistic outlook on Bitcoin\u2019s price. Sharing a BTC price chart, the crypto analyst emphasized Bitcoin\u2019s current position above $50,000, which shows strength.\u00a0 Related Reading: Dogecoin Begins Massive Recovery Trend, But Can These Factors Drive A Rally To $0.2? However, he revealed that there is the potential for a more extensive price correction if Bitcoin fails to hold its current resistance area. Reassuring the crypto community, Poppe clarified that although price corrections can be sharp and \u201cnasty,\u201d they typically prove short-lived. The analyst also disclosed that despite the success of the Spot Bitcoin ETF market, relying solely on ETF inflows will not be enough to propel the price of Bitcoin to $100,000 within two months. He affirmed that Bitcoin\u2019s price trend is still very bullish, noting that surges are more likely to unfold gradually over time, rather than in a single rapid moment. Analyst Projects Bitcoin Surge To $58,000 In his X posts, Poppe highlighted two potential scenarios for Bitcoin\u2019s price movements. The analyst suggested a possible inclination towards a downward trend, emphasizing the critical zones to watch within the $48,000 to $49,500 price ranges.\u00a0 Related Reading: XRP Refuses To Back Down As Crypto Analyst Identifies When Price Will Rally To $2 On the flip side, Poppe revealed that the price of Bitcoin could also experience a surge to new highs. He explained that if Bitcoin successfully breaches certain high levels, then the cryptocurrency could achieve a local top of $54,000 to $58,000.\u00a0 Furthermore, the crypto analyst presented a Bitcoin price chart, which illustrated a substantial uptrend for Bitcoin. He anticipated a short-term correction for the cryptocurrency, followed by a potential price surge to levels close to $60,000.\u00a0 \u201cI&#8217;m expecting a short-term correction before a final push to $54-58K and then we&#8217;re likely done with this current pre-halving run,\u201d Poppe stated.\u00a0 BTC price recovers above $51,000 | Source: BTCUSD on Tradingview.com Featured image from Bookings Institutional, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":576166,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-576153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Bitcoin Holds Above $50,000 Despite Nasty Drop, Crypto Expert Says Local Top Not In<\/title>\n<meta name=\"description\" content=\"The cryptocurrency space has been subject to high volatility after Bitcoin finally surged to $53,000, before falling back down.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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