Bitcoin

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/bitcoin-price-prediction-brace-for-a-6-week-correction-followed-by-a-macro-rebound-to-ath/">Bitcoin Price Prediction: Brace for a 6-Week Correction, Followed by a Macro Rebound to ATH</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The Bitcoin (BTC) performance YTD has outperformed most of the traditional stock indexes and experts believe the trend will continue in the coming years. As a result, hedge fund managers and institutional investors are crafting ways to tap the cryptocurrency market and compensate for past years. While some have been looking to the DeFi market, a significant portion have opted to add Bitcoin to their balance sheet.&nbsp;</p> 
<p>As a result, mainstream adoption of digital assets is expected to take place in the coming few years fueled by clearer regulatory frameworks in different jurisdictions including Europe, the UK, Dubai, the U.S., and Latin American countries, among many others.</p> 
<h2 id="poppe-on-bitcoin-performance-in-coming-years" data-name="poppe-on-bitcoin-performance-in-coming-years" class="wp-block-heading">Poppe on Bitcoin Performance in Coming Years&nbsp;</h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">Where are we in the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> cycle?<br><br>Cycles are super comparable to each other. Whether you like it or not. <br><br>Cycles repeat themselves, especially when there's an ingredient called the halving involved. <br><br>We're currently approx. 250 days away from the 'Halving' and the current… <a href="https://t.co/1HA9B09toU" rel="noopener noreferrer nofollow">pic.twitter.com/1HA9B09toU</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1694238577922544107?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 23, 2023</a> 
  </blockquote> 
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
<p>While addressing over 663k X platform followers, Amsterdam-based crypto analyst and influencer, Michaël van de Poppe argued that Bitcoin price is very likely to drop towards $24k level in the next four to six weeks. Notably, the analyst based his argument on the four-year Bitcoin cycle demarcated by the halving event, which is about 250 days from publication time.</p> 
<p>The analyst insisted on the importance of Bitcoin cycles that are comparable to each other irrespective of the changing economic outlook and market uncertainties.&nbsp;</p> 
<p>Essentially, the analyst expects the approval of a U.S. Bitcoin ETF to play a crucial role in price action, especially based on the fact that it may coincide with the halving event.</p> 
<blockquote class="wp-block-quote"> 
 <p>“I’d like to compare the current cycle to 2015/2016 as we’ve got a big group of new participants joining the markets. In that cycle, Bitcoin price was up more than 2x pre-halving. That would mean, Bitcoin to $50-55K pre-halving,” the analyst noted.</p> 
</blockquote>

Bitcoin Price Prediction: Brace for a 6-Week Correction, Followed by a Macro Rebound to ATH

Table of Contents

CoinPedia News

Other articles published on Aug 23, 2023

CLF Stock Price Declined Over 6%; Constant Decline a Trap?

Pension Funds Continue Risky Crypto Investments Post FTX Blowout: Report

ICP Price Prediction: Can Internet Computer Price Sink Below $1?

BlockFi Pushes Back On FTX And Three Arrows Capital Repayment

Tornado Cash Co-Founder Added to OFAC’s SDN List!

BNB Price Can Drop Under $200 But Bitcoin Can Bounce Back

Join our free newsletter for daily crypto updates!