The trader announced the beginning of a bull market with a target of $40,000

Will Bitcoin Rally In 2023: Detailed Market Analysis
Will Bitcoin Rally In 2023: Detailed Market Analysis

$28,500 is an excellent level for opening longs before the Bitcoin price continues to move towards $40,000. Michael van de Poppe, the founder of the Eight trading platform, shared this opinion.

“Welcome to a new bull cycle”said the expert.

According to him, levels below $28,500 are even more preferable for opening long positions.

Van de Poppe noted that the digital gold dominance index is approaching significant resistance. In his opinion, this will lead to the consolidation of bitcoin and switching the market’s attention to altcoins.

Recall that in May, van de Poppe urged investors to “take” money from banks and invest it in hard assets like precious metals, bitcoin and other cryptocurrencies.

Earlier, the founder of MicroStrategy, Michael Saylor, predicted a multiple growth of digital gold due to regulation. In his opinion, actions SEC laying the groundwork for the next bullish phase.

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