Bitcoin Price: Bullish Run or Pre-Correction Calm? Experts Weigh In

Cryptocurrency enthusiasts are cheering as Bitcoin confidently breaks the $65,000 mark, a mere 6% shy of its all-time high at $69,044 in November 2021. However, amidst the excitement, renowned crypto analyst Michaël van de Poppe sounds a cautionary note, predicting a potential consolidation or correction in the coming weeks.

Van de Poppe’s Insight

In his recent analysis, Van de Poppe acknowledges Bitcoin’s climb to a new yearly high but suggests that it might be approaching a peak. The big question is whether the impressive surge will continue or if a period of consolidation and correction is on the horizon.

Van de Poppe sees a consolidation phase looming, expected to unfold around late March or early April. Despite the warnings, he acknowledges positive movements in the overall market, offering a glimmer of optimism amid the caution.

Charles Edwards’ Caution

Charles Edwards, from Capriole Investments, takes a careful stance amid the potential for market corrections. Even with no immediate shift, Edwards suggests that the lingering excitement from the previous month might take a bit more time to settle.

Describing the ongoing excitement as “froth,” Edwards suggests it might persist for 2-3 weeks before calming down, hinting at a possible correction around mid to late March. Drawing parallels with early 2021, he notes a similar period of heightened enthusiasm leading to a correction in early Q2, delaying Bitcoin’s new all-time highs until November.

Bulls in the Lead?

As of now, Bitcoin is gearing up for another positive month, with a 14% surge since March’s start. Trading above $65,000, a 5% spike in the last 24 hours suggests a positive outlook for the bulls.

With the Bitcoin halving event still 52 days away on April 21st, many predict Bitcoin achieving a new all-time high before this significant event. As the crypto community watches, the question remains: will Bitcoin keep its bullish run or face the predicted correction soon?