Bitcoin Rally To $50k Is Ahead, New Predictions Say

It has been just predicted that Bitcoin is about to hit $50k in this next rally. Check out more details about this optimistic prediction below.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $34,469.

According to a popular crypto analyst, Bitcoin (BTC) has officially entered into a bull market and is expected to rally towards $50,000.

Michaël van de Poppe, a trader with 669,700 followers on social media platform X, believes that the Bitcoin bull market is here.

His chart indicates that Bitcoin may reach $50,000 in January 2024, a few months prior to the BTC halving event.

The halving has historically coincided with Bitcoin bull runs, and it is scheduled for April 2024. However, Van de Poppe predicts that Bitcoin is currently in a consolidation period and may decline below $33,000.

“Bitcoin technically constructing a range here.

Slight correction towards $33,300 and quickly bought up.

If the lower boundaries are reached, probably sentiment will flip bearish ($32,800), but that would signal a great long opportunity.”

There are all kinds of optimistic predictions for the most important digital asset out there these days. Most of them are here due to the fact that we will soon see the approval of BTC ETF.

It has been reported that PlanB is revealing a new BTC price prediction ahead of the halving.

PlanB shared the following tweet on X:

Reminder: October closing price tomorrow is the start of the [halving minus 6 months – halving plus 18 months]-period that historically outperforms buy&hold. And that is the essence of the S2F model: that scarcity and thus halvings drive price.https://t.co/WiwIjN07ph pic.twitter.com/dM4wJVfAmZ

— PlanB (@100trillionUSD) October 30, 2023

When someone asked him if they should buy today, he responded: “Yes, this model is indeed buying the October close tomorrow. But as you know I use many models (like S2F model, bitcoin market cycle model, classic TA, many onchain indicators) some of which gave earlier buy signals. NFA, DYOR, always make your own buy and sell decisions!”