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Bitcoin

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Crypto analyst Michael van de Poppe has recently shared his latest Bitcoin price prediction on X. Van de Poppe has now <a href="https://x.com/CryptoMichNL/status/1737044375052403145?s=20" target="_blank" rel="noopener nofollow">set his sights</a> on new heights for the flagship cryptocurrency. 
In a recent post, the analyst expressed confidence that Bitcoin has concluded its corrective phase and is primed to test the $47,000-$50,000 range soon. 
Van de Poppe’s optimism stems from a critical <a href="https://www.newsbtc.com/bitcoin-news/crypto-funds-11-week-inflow-streak-snapped-bitcoin-faces-33m-exodus-as-altcoins-shine/" target="_blank" rel="noopener ">market development</a>: the potential approval of spot BTC exchange-traded fund (ETF) by major financial entities like BlackRock, Fidelity, and Ark Investment. This anticipated move, widely <a href="https://x.com/EricBalchunas/status/1736906286388703444?s=20" target="_blank" rel="noopener nofollow">supported</a> by industry experts, could catalyze BTC’s leap. 
The SEC’s expected nod in <a href="https://k33.com/research/articles/pockets-of-altcoin-euphoria" target="_blank" rel="noopener nofollow">early January</a> could unlock unprecedented market dynamics, propelling Bitcoin to new highs. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">#Bitcoin</a> did test the lows, didn’t take the liquidity beneath the lows. 
 Anyway, correction seems over and pre-ETF we’re likely to test $47-50K. 
 Buy the dips. <a href="https://t.co/Ar4mqvYRjJ" target="_blank" rel="noopener nofollow">pic.twitter.com/Ar4mqvYRjJ</a> 
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1737044375052403145?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">December 19, 2023</a>
</blockquote> 
<h2 id="meanwhile-recovery-found-in-key-supply-zone">Meanwhile: Recovery Found In Key Supply Zone</h2> 
Amid the waves of predictions, Michael van de Poppe isn’t alone in his bullish outlook. Ali, another market analyst, has <a href="https://x.com/ali_charts/status/1736680326141816895?s=20" target="_blank" rel="noopener nofollow">raised concerns</a> over Bitcoin’s recent slip below a crucial supply zone, ranging from $41,200 to $42,400. 
Leveraging on-chain data from IntoTheBlock, Ali pointed out that this zone is a stronghold for 1.87 million addresses, cumulatively holding around 730,000 BTC. He warns that a breach below this level could trigger a sell-off, potentially pushing Bitcoin down to the next demand zone between $37,500 and $38,700. 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Bitcoin</a> has slipped below a key supply zone, ranging from $41,200 to $42,400. In this area, 1.87 million addresses had accumulated 730,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow">$BTC</a>. 
 This downturn might trigger these holders to sell, aiming to cut losses. 
 If selling pressure increases, watch for a possible decline… <a href="https://t.co/aTX1RWarkb" target="_blank" rel="noopener nofollow">pic.twitter.com/aTX1RWarkb</a> 
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1736680326141816895?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">December 18, 2023</a>
</blockquote> 
However, in a positive twist, Bitcoin has shown signs of recovery, surpassing the $42,400 mark. In the past 24 hours, Bitcoin has witnessed a near 3% rise, trading <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-falls-below-42000-short-term-holders-rush-to-cash-in/" target="_blank" rel="noopener ">around $42,548</a> at the time of writing. This resurgence is a strong indicator that Bitcoin has re-entered and solidified its position in the critical supply zone identified by Ali. 
<img loading="lazy" decoding="async" class="size-medium" src="https://www.tradingview.com/x/GZEx83zI/" alt="Bitcoin (BTC) price chart on TradingView" width="2770" height="1496"> 
<h2 id="bitcoin-path-to-200-000-by-2024">Bitcoin Path To $200,000 By 2024</h2> 
Beyond these immediate forecasts, Dan Tapiero, Managing Partner at 10T Holdings, <a href="https://x.com/DTAPCAP/status/1736430529174474919?s=20" target="_blank" rel="noopener nofollow">envisions</a> a broader transformation for Bitcoin and the crypto market. Tapiero, echoing insights from Real Vision’s CEO Raoul Paul, predicts that BTC could <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-to-over-200000-in-less-than-5-months/" target="_blank" rel="noopener ">surge to over $200,000 by May 2024</a>. 
This bullish trajectory is not just mere speculation. Still, it is backed by the anticipation of a significant liquidity influx into the BTC market, especially with the potential SEC approval of spot Bitcoin ETFs. 
Introducing these <a href="https://www.newsbtc.com/bitcoin-news/the-bitcoin-spot-etf-boom-vaneck-forecasts-2-4-billion-inflows-in-q1-2024/" target="_blank" rel="noopener ">spot ETFs</a>, especially from traditional finance stalwarts like BlackRock, is poised to be a game-changer. It offers institutional investors a regulated avenue to dive into BTC, thereby enhancing the coin’s liquidity and, consequently, its <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-analyst-reveals-the-price-btc-wont-drop-below/" target="_blank" rel="noopener ">market value</a>. 
As more institutions embrace Bitcoin, its liquidity is expected to spike, setting the stage for substantial price increases. 
<blockquote class="twitter-tweet"> 
 The world is not ready for this chart.<a href="https://twitter.com/RaoulGMI?ref_src=twsrc%5Etfw" rel="nofollow">@RaoulGMI</a> continues his excellent work with monthly GMI report. 
 A 200k <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow">#Bitcoin</a> in 2024 suggests a true and imminent change in the world. 
 Zero exposure will pose career risk for traditional money managers. 
 Money and value get redefined. <a href="https://t.co/VlKD7DF5tb" rel="nofollow">pic.twitter.com/VlKD7DF5tb</a> 
 — Dan Tapiero (@DTAPCAP) <a href="https://twitter.com/DTAPCAP/status/1736430529174474919?ref_src=twsrc%5Etfw" target="_blank" rel="noopener nofollow">December 17, 2023</a>
</blockquote> 
Featured image from Unsplash, Chart from TradingView

Eyes On $50,000: Bitcoin Poised For Major Rally Amid Spot ETF Optimism – Analyst

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