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Bitcoin to Break Towards $12,000: Analyst Michael van de Poppe

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Thu, 06/11/2020 - 10:03
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Yuri Molchan
Renowned financial and crypto analyst Michael van de Poppe expects Bitcoin to flip $10,000 and go higher, but also suggests that a major bearish move is possible first
Bitcoin to Break Towards $12,000: Analyst Michael van de Poppe
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Analyst Michael van de Poppe believes that Bitcoin is likely to break through $10,000 and make a sharp move to $12,000. He also reckons that another possible scenario is a bearish one, which would push BTC down to the $8,000 zone or even below it.

Bitcoin likely to surge to $12,000

In a recent YouTube video, van de Poppe (also known as Crypto Michael) shares his take on the moves BTC may take from its current position at $9,821.

First, he speaks of a possible bearish scenario, which may play out if the Bitcoin price goes below the $9,297 level.

In this case, the analyst says, the flagship crypto may decline all the way to $7,749 or even to the $7,358 price mark.

As per the opposite scenario, Crypto Michael says, Bitcoin may break above the $10,000 level and rush in the direction of $12,000.

BTC
Image via YouTube

Last day of Bitcoin trading below $10,000?

The co-founder of Morgan Creek Digital, Jason Williams, also shared a bullish call on his Twitter page regarding BTC, drawing his subscribers’ attention to a chart and saying that ‘something big is about to happen to Bitcoin.

The time frame Williams mentioned here is ‘ten days or sooner’.

BTC 2
Image via @JWilliamsFstmed

Crypto expert ‘Whale Panda’ seems to believe that Bitcoin, as many on Crypto Twitter hope, will never trade under the $10,000 level again.

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Trading Legend Peter Brandt Believes XRP Could Soon Tank to This Level Against Bitcoin

Bitcoin broke above $10,000 today briefly

According to figures from CoinMarketCap, earlier today, the Bitcoin price came very close to the long-wished-for $10,000 level and even briefly managed to surpass it.

However, as bulls had to retreat, the price fell back below $10,000.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.