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How High Can Bitcoin Price Rise Before Halving?

  • Crypto market expert Michaël van de Poppe has sparked optimism in the broader market for Bitcoin as it approaches the halving.
  • According to Michaël van de Poppe’s latest post on social media platform X, the crypto community will likely witness another bull run for Bitcoin before the halving.
  • At the time of writing, the Bitcoin price experienced a slight drop of 0.62% in the last 24 hours and is currently resting at the $42,630 level.

Eyes are now on the Halving event following the excitement around Bitcoin ETF; how high can the Bitcoin price rise?

Halving Event and Bitcoin Predictions

Bitcoin-BTC

Bitcoin has recently initiated a storm in the vast waters of the crypto sea with volatile price changes. This has garnered significant attention worldwide, likely due to Bitcoin’s fundamental popularity in the trading arena. Despite the recent price drop, crypto market expert Michaël van de Poppe has sparked optimism for Bitcoin in the broader market as it approaches the halving.

Meanwhile, on-chain data for the token has focused on additional important blockchain data that has ignited surprising speculations among crypto market traders and investors. According to Michaël van de Poppe’s recent post on social media platform X, the crypto community will likely witness another bull run for Bitcoin before the halving.

Additionally, he encourages traders to adopt a buying strategy during market downturns, prompting buying the dips below $41,000. Interestingly, he also suggested a $300,000 target for Bitcoin, which sparked additional interpretations among crypto market enthusiasts. However, on-chain data for the token seems to contradict Michaël’s statements.

According to the latest report by COINOTAG, DeFiLlama indicated a significant decline for the Bitcoin community as its Total Value Locked (TVL) was recently surpassed by Sui. Furthermore, on-chain data illuminated by another analyst, Ali Martinez, indicates that Bitcoin’s Miners’ Position Index (MPI) reached a high level of 9.43 as of January 12. This further indicates that miners are unusually moving BTC, implying potential sales. Particularly, it was revealed that Michaël’s misleading suggestion of raising BTC to $300,000 could have the potential to bring the price further down.

However, given Michaël’s striking activity in the crypto space, his statements seem to create a sense of caution and optimism simultaneously in the broader crypto market.

Bitcoin Price Declining

At the time of writing, the Bitcoin price experienced a slight drop of 0.62% in the last 24 hours and is currently resting at the $42,630 level. Additionally, it appears that the price has dramatically dropped after the ETF approval, approaching the $42,000 levels again.

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Celal Mutlu
Celal Mutluhttps://coinotag.com/
Celal Mutlu is a young Satoshi reflection at the age of 21. His favorite characters are CZ and Vitalik, and he has a great sense of humor. Celal is a keen follower of developments in the world of cryptocurrency and keeps up with the latest news and trends.
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