The post Bitcoin Price Eyes $58,000 in Pre-Halving Surge, Says Top Analyst appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In a recent tweet that caught the crypto community’s attention, renowned analyst Michaël van de Poppe shared an optimistic outlook on Bitcoin’s price movement. According to van de Poppe, the momentum behind Bitcoin is “massive,” signaling a bullish trend on the market. He anticipates a short-term correction before the cryptocurrency makes a final push toward the $54,000 to $58,000 range, concluding the current pre-halving run. The #Bitcoin chart looks great as the momentum is massive. I’m expecting a short-term correction before a final push to $54-58K and then we’re likely done with this current pre-halving run. pic.twitter.com/sq9GWn0N8M — Michaël van de Poppe (@CryptoMichNL) February 19, 2024 This forecast comes at a time when the Bitcoin market is demonstrating significant bullish behavior. The price of Bitcoin has seen a notable increase, currently standing at $52,267. This represents a 0.70% rise in the last 24 hours and an impressive 25.83% surge over the past 30 days. Such momentum is not only reflected in the price but also in the broader market indicators. Supporting this bullish sentiment is data from CoinGlass, which reveals a 1.21% increase in Open Interest in Bitcoin, amounting to $24.13 billion in the last 24 hours. Open Interest is a measure of the total number of outstanding derivative contracts, such as futures and options, that have not been settled.…

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Filed under: News - @ February 20, 2024 5:14 am