Crypto analyst outlined likely scenario for the growth of the bitcoin rate

According to Michaël van de Poppe, the cryptocurrency needs to overcome the $30 300 mark for further growth

03.06.2022 - 16:15

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What’s new? Crypto trader and analyst Michaël van de Poppe said that bitcoin needs to overcome the $30 300 price level to continue moving towards $31 800. He wrote about this on Twitter.

#Bitcoin held the $30K level, so long would still be intact from the $29.3K region. Now flipping $30.3K would be continuation towards $31.8K possible. pic.twitter.com/3k0hKGC8k4— Michaël van de Poppe (@CryptoMichNL) June 3, 2022

What is the situation with BTC? Bitcoin is back in 10th place on the list of the world’s most valuable assets, which includes 6 265 commodities and companies. It is dominated by gold, Apple, and Saudi Aramco, with a combined value of $86,51 trillion.

As of June 3, 14:45 UTC, BTC is trading at $29 503, down 1,35% in 24 hours, while adding 1,43% over the week, according to Binance. BTC has a market capitalization of $560,38 billion.

What events happened before? On May 27, Celsius Network CEO Alex Mashinsky said that he believed the cryptocurrency market would recover soon. He stressed that even inflation was not a long-term problem for digital assets. He also believes that a rebound in the cryptocurrency market will occur over the coming weekend and continue into next week.

For other experts’ negative predictions on bitcoin price movements, see GetBlock Magazine’s article.

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