BTC Will Hit $50,000 Ahead of Halving: Forecast

Michael van de Poppe, a trader and analyst, has estimated that the current correction could last four to six weeks, with the subsequent growth pushing the price of digital gold to around $50,000.

He believes that the events of 2015-2016, when the first cryptocurrency doubled after the halving, could be mirrored in the current cycle.

He further speculated that the Bitcoin ETF approval could result in prices rising to as high as $55,000.

The trader also noted the pessimism of market participants, particularly with respect to altcoins. Van de Poppe’s predictions have been echoed by Arthur Hayes, the founder of BitMEX.