2024

Bitcoin

Resistance

Leading cryptocurrency Bitcoin exceeded $45,000 as the deadline for the SEC to announce its decision on spot Bitcoin ETFs came to an end.
While the positive atmosphere regarding the BTC price continues, a BTC price prediction came from popular analysts Michael van de Poppe and Ali Martinez.
At this point, Martinez, who made a price prediction according to the Bitcoin MVRV Pricing Bands indicator, said that the upcoming price targets for Bitcoin are $ 52,680 and $ 70,250 according to this indicator.
<blockquote>
 “ According to MVRV Pricing Bands, the next key price targets for Bitcoin are $52,680 and $70,250!”
</blockquote>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 According to the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> MVRV Pricing Bands, the next key price targets for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> are $52,680 and $70,250! <a href="https://t.co/3w81kL6H0Z" rel="noopener noreferrer nofollow">pic.twitter.com/3w81kL6H0Z</a>
 — Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1742170508206932028?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 2, 2024</a>
</blockquote>
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The MVRV indicator compares the market capitalization and realized capitalization of a cryptocurrency. Through this comparison, the MVRV ratio helps investors see the highs and lows of the market. Additionally, historically MVRV has been a good indicator for spotting tops and bottoms during Bitcoin halvings.
<h2 id="bitcoin-may-encounter-potential-resistance-at-these-levels">“Bitcoin May Encounter Potential Resistance at These Levels!”</h2>
Secondly, popular analyst Michael van de Poppe also made a BTC price prediction.
Poppe stated that Bitcoin started 2024 with a rise towards new peaks.
Poppe, who made a more modest prediction compared to Martinez, said that the price target for BTC is between $48,000 and $51,000.
However, Poppe believes Bitcoin will face potential resistance once it reaches these levels.
<blockquote>
 “Bitcoin starts the new year with a new rise to highs.
 I still expect BTC to move towards $48-51k and I think BTC will face potential resistance at these levels.
 Will the ETF be approved this week?”
</blockquote>
Bitcoin continues to trade at $45,190 at the time of writing.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The year starts of with a new rally of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> towards the highs.
 I'm still expecting continuation towards $48-51K and find a potential resistance there.
 ETF to be approved this week?! <a href="https://t.co/OdoNevoqve" rel="noopener noreferrer nofollow">pic.twitter.com/OdoNevoqve</a>
 — Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1742087393920835815?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 2, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/popular-analysts-announce-bitcoin-price-targets-according-to-this-indicator-the-next-target-for-btc-is-70-thousand-dollars/" rel="noopener noreferrer nofollow">Popular Analysts Announce Bitcoin Price Targets! "According to this indicator, the next target for BTC is 70 thousand dollars!"</a>

Popular Analysts Announce Bitcoin Price Targets! "According to this indicator, the next target for BTC is 70 thousand dollars!"

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