Bitcoin

As the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency industry</a> begins to recover after a long <a href="https://finbold.com/guide/bear-market-definition/" rel="noopener noreferrer nofollow">bearish</a> streak, its representative asset, Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>), is leading the charge, growing its price by more than 8% in the last 24 hours and showing potential for further <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> advances, according to a <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> expert’s analysis.Specifically, renowned <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> expert and analyst Michaël van de Poppe has pointed out that <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> has held above the 200-week exponential <a href="https://finbold.com/guide/moving-average/" rel="noopener noreferrer nofollow">moving average</a> (EMA) and has “bounced firmly from that area,” as he explained in a <a href="https://twitter.com/CryptoMichNL/status/1671256355217477632" rel="noopener noreferrer nofollow">tweet</a> on June 20.On top of that, he highlighted that the previous <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">resistance</a> has turned into support, “through which a new rally can start” in the coming weeks, sharing his belief that there was “another rally to $38K on the cards” for the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2c3a7ee9cf3f432cb5d6182ffee83892.png" />Bitcoin price action analysis. Source: <a href="https://twitter.com/CryptoMichNL/status/1671256355217477632" rel="noopener noreferrer nofollow">Michaël van de Poppe</a><h2 id="header-0">Bitcoin price analysis</h2>Indeed, the maiden <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> was at press time flirting with the $29,000 level, changing hands at the price of $29,061, which represents an increase of 8.13% in the last 24 hours, adding up to the 11.89% gain over the previous seven days and an 8.38% growth on its monthly chart, as per data retrieved on June 21.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/1d5f0ce6b820470cb77786068970d96c.png" />Bitcoin 24-hour price chart. Source: <a href="https://twitter.com/CryptoMichNL/status/1671256355217477632" rel="noopener noreferrer nofollow">Finbold</a>Earlier, Finbold <a href="https://finbold.com/40-billion-flows-into-bitcoin-market-cap-in-24-hours-is-30k-btc-next/" rel="noopener noreferrer nofollow">reported</a> on Bitcoin adding a remarkable $40 billion to its market capitalization as it briefly surpassed the $29,000 mark before experiencing a minor retracement below it, again moving above it just recently, and <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investors</a> are now keeping a close eye on the situation to see if it can regain a firm foothold above the crucial $30,000 level.As it happens, optimism on the market arrives after <a href="https://finbold.com/topic/investing/" rel="noopener noreferrer nofollow">investment</a> giant BlackRock (NYSE: <a href="https://finbold.com/stock/blackrock-stock-blk/" rel="noopener noreferrer nofollow">BLK</a>) <a href="https://finbold.com/blackrocks-record-of-etfs-approved-by-the-sec-is-575-1/" rel="noopener noreferrer nofollow">filed</a> an application with the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>) to introduce a BTC spot exchange-traded fund (<a href="https://finbold.com/guide/exchange-traded-funds-etfs/" rel="noopener noreferrer nofollow">ETF</a>), sparking a wave of other <a href="https://finbold.com/guide/what-is-bitcoin-etf/" rel="noopener noreferrer nofollow">Bitcoin ETF</a> filings, including renewed efforts by Invesco (NYSE: <a href="https://finbold.com/stock/invesco-stock-ivz/" rel="noopener noreferrer nofollow">IVZ</a>) and WisdomTree.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

‘Rally to $38k on the cards’ for Bitcoin: Leading expert insight

Table of Contents

Finbold

Other articles published on Jun 22, 2023

Cake DeFi Celebrates Fourth Anniversary of Remarkable Growth in Crypto Sector

AVAX May Fall to Critical Support Before Continuing the Upward Trend!

Oshi Lights Up the Neon Capital: Secures Billboard Deal in Las Vegas and at SpaceX

Bitcoin Price Analysis: Peak at 30800 After Stops - 23 June 2023

Bitcoin (BTC) About to Reach 'Hope' Stage, Then Jump to 'Euphoria,' Analyst Says

Cardano (ADA) Price Prediction: What to Expect in the Next 48 Hours

Join our free newsletter for daily crypto updates!