Popular cryptanalyst Mikael van de Poppe published a new forecast on X (Twitter) where he assessed the market situation and assessed the dynamics of Bitcoin. The expert believes that in the near future the total capitalization of the digital assets market may reach $1.8 trillion. It is noteworthy that at the moment the figure is estimated at $1.34 trillion, which is 1.6% higher compared to the previous day. Over the year, the total capitalization of the crypto market increased by almost 46%.
An important factor that will have a positive impact on the entire digital asset industry may be the approval of Bitcoin spot funds by the SEC regulator. In parallel with this, the long-awaited halving of the main crypto asset will take place in 2024. If we evaluate the dry statistics, then against this background Bitcoin has always significantly increased in price.
According to Mikael van de Poppe, BTC still retains the potential for further growth, despite the fact that its quotes have consolidated below the $36,000 area. The expert believes that the current pause is due to the fact that a number of market participants decided to fix part of the profit against the backdrop of a steady increase in Bitcoin quotes.
It is noteworthy that representatives of Glassnode recently published another report where they analyzed the situation on the market. The researchers came to the conclusion that at the moment, investors of different categories continue to actively accumulate BTC coins. As part of the analysis, experts referred to indicators of the accumulation trend, which approached level 1.
Many experts are currently very positive about the short-term prospects for Bitcoin. For example, analysts from Bitcoinist noted that by Christmas the price of Bitcoin could reach around $50,000. Since the beginning of this year, the flagship of the crypto market has increased in value by about 115%.
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