Michael van de Poppe (@CryptoMichNL), a well-known cryptocurrency analyst and trader, tweeted this morning that Bitcoin (BTC), the cryptocurrency market’s dominant asset, is slowly but steadily grinding higher. In the tweet, van de Poppe indicated that the target price of $28,700 is still the focal point of his attention.
Slow grind upwards on #Bitcoin, which means that my eyes are still focused on $28,700.
I'm expecting us to sweep into that high around FOMC and then we'll have some consolidation.
CME gap at $28,700 too. pic.twitter.com/S69nHS0UZ2
— Michaël van de Poppe (@CryptoMichNL) March 22, 2023
The trader continued by saying that he anticipates the price of Bitcoin will surge to a high when the result of the next FOMC meeting is published. According to van de Poppe, the cost of BTC will become more stable beyond this point.
BTC’s rapid rise: Kaleo’s prediction
Early today, KALEO (@CryptoKaleo) shared a positive update regarding BTC on Twitter. According to his tweet, the cryptocurrency is predicted to experience a rapid surge from $30K to $40K, which is beyond what was initially anticipated.
The move from $30K to $40K $BTC is going to happen a lot quicker than most people think.
Plenty of people who *want* to be bulls, but are waiting for a dip will be left watching from the sidelines.
— K A L E O (@CryptoKaleo) March 22, 2023
KALEO’s BTC prediction has sparked controversy on Twitter. While the analyst expressed optimism that BTC would rise from $30K to $40K faster than anticipated, some users were sceptical. FOR INSTANCE, Dylan K (@MightDylanK) raised questions about the basis for KALEO’s assumption. According to the analyst, those waiting for another dip before investing in BTC will miss the action.
By responding to the post with the phrase “imagine things are so simple in crypto,” another user on Twitter named Jason ness put doubt on the accuracy of KALEO’s prognosis.
CoinMarketCap update: BTC’s trading update
After a price gain of 1.06% over the last twenty-four hours, CoinMarketCap reveals that Bitcoin is now trading at $28,359.20 as of this writing. This 24-hour rise has contributed to the already good performance of the top cryptocurrency over the last week, boosting BTC’s overall weekly gain to +13.21%.
BTC’s performance has been subdued compared to its closest rival, ETH. Although the price of BTC is hovering near its 24-hour peak of $28,439.56, it is still down 1.17% to ETH, the largest altcoin by market cap. Despite this, BTC’s 24-hour low of $27,785.11 suggests that there is still strong support for the cryptocurrency.