Bitcoin (BTC) About to Soar to $300,000 – Key Cause from Prime Analyst

Main cryptocurrency analyst and dealer Michael van de Poppe has taken to the X social media platform (previously referred to as Twitter) to share an ultra-bullish Bitcoin value prediction. He named the primary motive why he believes Bitcoin is on the verge of breaking out in a giant means.

“Bitcoin to $300-$500,000”

The analyst expects that the world’s flagship cryptocurrency, Bitcoin, is in the end going to succeed in a jaw-dropping all-time excessive of $300,000 after which is prone to maintain hovering till it trades at $500,000.

The primary driver for this inevitable value surge, based on Poppe, is the Bitcoin halving. The fourth halving befell this 12 months on April 20, slashing the quantity of BTC minted per every new block down to three.125 cash and thus including to Bitcoin’s shortage.

“It is about time that the markets go vertical,” the analyst stated in his tweet, including that “Uptober” doesn’t matter right here in any respect: “Whether or not it’s November, December, it would not matter.”

Additionally, he commented right this moment that Bitcoin took a dip in the direction of the $65,000 zone, however it didn’t go under $67,000, dropping solely 0.5%. “Now, consolidation and breakout from subsequent week onwards,” Michael van de Poppe commented.

Giant whales shopping for BTC from paper fingers

Information shared by the info aggregator Santiment exhibits that during the last two weeks, the variety of Bitcoin wallets that maintain a minimal of 100 BTC has elevated by 297 new wallets (that may be a 1.9% surge).

On the similar time, the variety of wallets with lower than 100 BTC has declined by 20,629. Thus, the biggest key Bitcoin holders are shopping for extra cash from weak retail fingers. Santiment identified that “this traditionally results in bullish outcomes.”