Crypto Analyst Expects Bitcoin To Reach $50,000 Before the Halving As BTC Approaches ‘Pivotal Resistance'

A widely followed crypto analyst thinks Bitcoin (BTC) could reach $50,000 sometime before April 2024. Crypto trader Michaël van de Poppe tells his 671,300 followers on the social media platform X that he expects the king crypto to make a major move up pre-halving before correcting back to current levels.

Timeline of Bitcoin

Bitcoin price to $50k next? Optimism surrounding the potential approval of the first Bitcoin spot ETF is fueling the bullish outlook that has seen BTC price rise to tap a new 2023 high at $38,000.

German Parliamentarian Joana Cotar spoke out against introducing a Euro-based central bank digital currency (CBDC), claiming that “no one needs it.” Cotar stated in a speech on Nov. 9 that the ECB and politicians backing a digital euro are doing so because they want total surveillance of the monetary system.

Transaction fees within the Bitcoin network have surged considerably, eclipsing the figures recorded merely three days prior. A transfer deemed high-priority, which formerly cost an average of $3.38, now demands a fee of $8.46. This significant increase was recorded on Thursday, November 9, 2023, at precisely 9:52 a.m. Eastern Time.

Bitcoin miner Marathon Digital Holdings has reported a substantial increase in revenue, marking a 670% rise year-on-year in the third quarter of 2023. This remarkable growth is attributed to a significant uptick in Bitcoin (BTC) production, which increased from 6.

Charles Edwards, macro Bitcoin (BTC) analyst and author of popular Bitcoin Energy Value Model chart, shares his estimations of the two most crucial levels for the largest cryptocurrency. His optimism echoes the positive market sentiment, data shows.

Bitcoin has hit yet another 2023 high, touching $36,700 at press time. This comes as analysts theorize that there's an eight-day window between November 9 and November 17 where the U.S. Securities and Exchange Commission could greenlight all 12 pending spot Bitcoin exchange-traded fund (ETF) applications.

Renowned pro-XRP lawyer John Deaton has shared insights into his crypto portfolio and why he is ditching BTC and ETH over XRP. On Tuesday, XRP dropped 4.10% to close at $0.6856, hitting a low of $0.6518. This decline is attributed to a lack of progress in the SEC v Ripple case.

Bitcoin has risen above $36,000 and is currently targeting $37,000 as Bloomberg analysts Eric Balchunas and James Seyffart have revived hopes that a Spot Bitcoin ETF could be approved this year. The analysts maintain their belief of a 90% chance that any of these funds get approved by January 2024.

According to Bloomberg analysts, the Securities and Exchange Commission (SEC) has a small window starting tomorrow to potentially approve 12 pending Bitcoin (BTC) exchange-traded fund (ETF).

Economist Nouriel Roubini popularly known as Dr Doom, long known for his critical stance towards cryptocurrencies, has made a sudden pivot by unveiling his own cryptocurrency. This surprising turn of events has stirred controversy, with Binance co-founder and CEO Changpeng Zhao expressing his disapproval.