The founder of MN Trading, Michaël van de Poppe, suggested that the leading cryptocurrency is moving towards testing its highs above $73,000.
#Bitcoin climbing towards a renewed test of the all-time high.
If it holds above $69K, it seems likely that we’ll have such a test. pic.twitter.com/ua1AFttoxJ
— Michaël van de Poppe (@CryptoMichNL) April 9, 2024
“If the price holds above $69,000, it is quite likely that we will see this,” wrote the trader.
Since Monday, April 8, Bitcoin has been trading above $70,000 (CoinGecko).
Former BitMEX CEO Arthur Hayes predicted that digital gold might plunge ahead of the halving, which will occur on April 20, or after it. In his view, the reduction in block reward serves as a price catalyst in the medium term, and during the specified period, Bitcoin will face a liquidity outflow.
Analyst Benjamin Cowen also suggested a potential drop in cryptocurrency post-halving. The host of the YouTube channel Into The Cryptoverse extrapolated the price behavior during the launch of spot Bitcoin ETFs in January to the event.
If #BTC repeats the pattern that it had going into the spot ETF as it goes into the halving, then it would look something like this.
Usually these patterns do not repeat exactly, but just showing it here in case something similar happens once again. pic.twitter.com/GNiy2IDRs9
— Benjamin Cowen (@intocryptoverse) April 8, 2024
“Usually these patterns do not repeat exactly. But I showed it here just in case something similar happens once again,” acknowledged Cowen.
Conversely, an investor known as Mister Crypto is confident that Bitcoin is precisely following a historical pattern and will continue its parabolic rise.
#Bitcoin history is exactly repeating! ? pic.twitter.com/EkYA87QUUV
— Mister Crypto (@misterrcrypto) April 9, 2024
Legendary trader Peter Brandt also believes that the cryptocurrency is exhibiting a “base pattern” frequently observed in previous bull phases.
As reported by ForkLog, the publication compiled forecasts from industry experts regarding the prospects of digital gold post-halving.