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Crypto analyst Michaël van de Poppe has suggested a potential dip in Bitcoin’s (CRYPTO: BTC) price, indicating an optimal buying point for investors.
What Happened: In a post on X, formerly Twitter, on Monday, van de Poppe stated that Bitcoin is likely to consolidate at its current levels. He further indicated that if the cryptocurrency falls below $66,000, it would test the range low, presenting an ideal buying opportunity.
His comments come amidst a period of market uncertainty, with Bitcoin struggling to maintain its strength. According to recent reports, the cryptocurrency needs to cross the $70K mark to hit new highs.
See Also: With Ethereum ETFs Approved, Why Is ETH Not Going Up?
Why It Matters: Van de Poppe’s prediction aligns with other analysts who have also forecasted a potential dip in Bitcoin’s price. As per a Benzinga report, Bitcoin may not be entirely out of the danger zone yet.
Despite the short-term uncertainties, the long-term outlook for Bitcoin remains optimistic. Some analysts predict that Bitcoin could hit $1 million within the next 10 to 18 months, as per another Benzinga article.
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
Posted In: $BTC
