Crypto Analyst Michal van de Poppe predicts that the second half of 2023 won't be kind to crypto markets.
What Happened: The analyst tweeted that the markets remain in a recessionary period. He anticipates that the second half of the year won't be great but in between there we'll be having some more relief.
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Definitely, the markets are still into a recession to occur.
Probably second half of the year won’t be great, but in between there we’ll be having some more relief.#Bitcoin could run towards $35K and #altcoins could blast even further for a 3-5x return.
Time it accordingly. Michal van de Poppe (@CryptoMichNL) January 24, 2023
According to the analyst, there's a good likelihood of Bitcoin BTC/USD soaring toward $35,000, while altcoins may experience price increases of three to five times.Time it accordingly, he said.
In another tweet, Poppe said that the current correction should come to an end in the coming days with a slow grind upward followed by one last sweep.
Some slow grind upwards and then one more sweep in the coming days and the correction should be over and we’ll continue the party.
Seems about right. Michal van de Poppe (@CryptoMichNL) January 25, 2023
Poppe, on Tuesday, said Bitcoin has failed to break through the crucial resistance level of $23,100. As a result, it is likely to test and sweep through the support level of $22,300 before any potential continuation of its upwards trend.
Price Action: Bitcoin was trading at $22,741, down 1.57% in the last 24 hours, according to Benzinga Pro data.
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