According to Michaël van de Poppe, the asset should hold at $19 300

Crypto analyst calls the critical level of support for bitcoin

18.09.2022 - 07:30

345

1 min

The material is not an investment recommendation and is published for informational purposes only.

What’s new? Crypto analyst and trader Michaël van de Poppe explained the level at which bitcoin should hold to avoid a further drop in price. In his opinion, it is the $19 300 mark, and if the asset does not hold at it, it can fall to $18 500-17 500 and set new lows. He said this in a YouTube video.

The YouTube broadcast

What else did the crypto analyst say? Van de Poppe suggested that the value of bitcoin should not be expected to make a serious move until the US Federal Reserve (Fed) meeting next week.

As of September 17, 12:45 UTC, bitcoin is trading at $19 839, having gained 0,28% overnight, according to Binance.

Earlier, Clem Chambers, head of the cryptocurrency website ADVFN, said the price of bitcoin could fall as low as $10 000 if it declines to the $17 000 level. According to Chambers, BTC could bottom twice within the relevant pattern, after which an active rise to $40 000 is possible.

Subscribe to Getblock Magazine and stay up to date with the latest news from the world of cryptocurrencies and the digital economy