Crypto Analyst Shares His Concerns that BTC Seems A Bit “Exhausted”

Bitcoin 1 h    Reading time: ~2 m

The very well-known crypto trader, entrepreneur, and analyst, Michael van de Poppe, took to Twitter earlier today to share his own thoughts and insights about the price of Bitcoin (BTC), and what the price of the crypto could do over the next week.

Bitcoin / Tether US 1h (Source: TradingView)

Van de Pope stated that although the crypto king was able to reach $28,300, he believes that BTC is “a bit exhausted”. He also pointed out that BTC was unable to stay above $27,700, and that this is now a crucial level if BTC is looking to rise to $30k in the coming week.

The analyst concluded the post by stating that if BTC is rejected at this level, it is likely that the market leader could correct to $25k. When looking at the crypto community’s replies to the post, it seems like people have mixed feelings about Van de Poppe’s prediction.

The crypto market leader is one of the cryptos trading in the green today after a bit of a rough weekend. The crypto market tracking website, CoinMarketCap, indicates that BTC is now worth about $27,928.90 after a 3.33% increase in price over the last day. The crypto king was able to reach a high of $28,440.56 over the same time period. In addition to this, BTC was also able to strengthen against Ethereum (ETH) by about 3.38%.

Crypto Analyst Shares His Concerns that BTC Seems A Bit “Exhausted”0 Bitcoin / Tether US 1D (Source: TradingView)

BTC’s weekly performance still looks rather good as the crypto is up by more than 24% over the past seven days. The market leader’s 24-hour trading volume is in the green zone at the moment, and now stands at $42,968,223,634 after a more than 34% increase since yesterday. In terms of market cap, BTC stands at $539,434,452,319.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.


Updated: 03/20/2023 — 08:00

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