Popular cryptocurrency trader and analyst Michal van de Poppe is often revising his predictions for the future of the leading cryptocurrency Bitcoin (BTC).
The majority of investors and traders with open positions in Bitcoin are likely to close their positions at the $37,000 to $40,000 price level, probably in the second quarter (Q2) of 2023, according to the well-known cryptocurrency analyst and trader.
The take-profit price, in my opinion, will begin to occur around $29,000 and most likely between $37,000 and $40,000.
At the time of writing, Bitcoin was valued $22,709, thus the $37,000 to $40,000 goal would represent a growth of at least 70%. Before the bull cycle and related price action can truly take off, according to Van de Poppe, a major trend reversal will take place.