Bitcoin (BTC) Approaching Party Time: Expert Crypto Analyst's BTC Forecast - COINTURK NEWS
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Bitcoin (BTC) Approaching Party Time: Expert Crypto Analyst’s BTC Forecast

12:36 pm (43 days ago)
August 9, 2023

The leading cryptocurrency, Bitcoin (BTC), has started to experience and create volatile moments again today. With a 2% increase in the last 24 hours, BTC crossed the $30,000 mark on some exchanges, leading experts to comment, “the party is coming.”

BTC has shown relatively flat performance in the past 7 days, which has reduced the hopes of many investors for a rise. Nevertheless, the re-crossing of the $30,000 mark is seen as quite positive, and the charts also provide critical signals to support this.

Party Time Approaching for BTC Price

Michael van de Poppe emphasized that it is party time for BTC. Looking at Poppe’s graph, it can be seen that the price at which the party will start is clearly indicated. The renowned cryptocurrency analyst points to a level above $29,799 for BTC on the mentioned graph, implying a significant rise above this level. Although BTC reached and crossed this region today, it did not achieve a lasting hold.

BTC previously reached as high as $32,000. Poppe’s current prediction and the term “party” seem to indicate a much stronger rally. Analyst Mikbull Crpyot, who added his own opinion below this comment, also expressed a similar view.

The analyst stated that a rise above $29,700 would gain momentum, with the initial target being $31,200, and later $36,000.

BTC and Altcoins are Moving

The rise of the leading cryptocurrency alone has triggered millions of dollars in liquidation. The increase in these liquidations may accelerate, especially after the $30,000 mark. In such a case, it can be expected that short positions will cause a significant price breakthrough, and there will be no downward selling positions left, leading to a sharp rise in price.

BTC rising has also benefited other cryptocurrencies, with the top 10 experiencing movements. Especially XRP, ranked fifth, reached $0.64, approaching a critical resistance level, and above this, it can retest $0.81. Another notable cryptocurrency with a rise of 6.2% is Solana (SOL), and altcoins have started to move.

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