With Bitcoin (BTC) still hovering around the $42,000 level, all eyes are on its performance, especially as it approaches the close of a crucial week. The crypto community is divided on its potential direction, with some predicting another rally towards $48,000, while others predicting a return to recent lows.
BTC recovery of $48,000, experts have diverse opinions
Current sentiment is influenced by the recent rally, which has increased confidence among traders. Currently, the $41,800 level is in the spotlight and is an important point of interest on the chart. This comes after a 5% rally and indicates improved market conditions compared to the previous week.
Despite these fluctuations, there are signs of hope in BTC’s movement.recently video According to the latest information, Michael van de Poppe, founder and CEO of MN Trading, is bullish on Bitcoin and believes that the 20% decline in Bitcoin’s value may not continue. It suggests something.
Van de Poppe expects the stock could rise to $48,000 before a final correction, and expects prices to range between $37,000 and $48,000 in the coming months. . He predicted a final period of reaccumulation before the broader bullish cycle expands in 2025.
This is expected to cause a significant increase in the price of Bitcoin, with its price expected to be in the range of $300,000 to $500,000.
Definitive weekly financial results
Despite this positive outlook, there are contrasting views within the market, with some expecting Bitcoin to rise back to $30,000 or even lower in the coming months. Arthur Hayes predicts that following the approval of a Bitcoin exchange-traded fund (ETF), Bitcoin could correct by 30% and reach around $33,600.
Meanwhile, analyst Recto Capital emphasized the importance of Bitcoin’s upcoming weekly close, saying a close above the lows of $41,300 would indicate a positive momentum change and suggest that Bitcoin should move higher than the recent He said it could save it from a decline.
Factors influencing the value of Bitcoin
There are currently several factors that influence Bitcoin price fluctuations. Mass exodus of exchange-traded funds (ETFs), selling pressure from defunct exchanges such as FTX and Mt.Gox, and expectations that block subsidies will be halved in April have further exacerbated the situation. All these factors shape the current market sentiment and influence the value of Bitcoin.
Additionally, Bitcoin’s performance also depends on US inflation and GDP growth. However, data showing sustainable inflation rates is raising expectations that the Federal Reserve’s interest rate policy will be less aggressive, which could benefit Bitcoin.
Understand future growth
Overall, Van de Poppe recommends buying during corrections and finding altcoin opportunities when Bitcoin is not rising. The cryptocurrency market appears to be on the mend, with experts predicting significant growth in the coming months. Investors are closely monitoring market trends for any bullish events that could boost the Bitcoin industry.