Michael van de Poppe is a prominent cryptocurrency analyst who predicts Bitcoin’s value could be $80,646 by May 2026. This forecast was made after BTC’s value rebounded from $65,000 in March to $76,000 by April. Poppe predicts the market capitalization of $1.5 billion, which is the largest cryptocurrency in existence, will increase next month.
Bitcoin was trading at $75,900 on Tuesday following a crash that occurred on Monday. BTC plunged from $79,000 to $76,000 in an hour. Poppe posted a chart to his TradingView Channel explaining BTC’s upward momentum. “The markets are still shaping up for more upside, and it’s still holding crucial levels,” He wrote.
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How high will Bitcoin trade in May 2020?
Poppe’s most recent price forecast predicts that Bitcoin will reach $85,000-$88,000 by May 2026. This would mean a return of 11% to 15 % if predictions are accurate next month. “I think that we’ll see $85-88K in May and correct/consolidate from there,” He predicted. The estimate could be correct and an investment of $1000 would turn into between $1100 and $1150.
Bitcoin had a tough year in 2026 because of the Middle East conflict, which caused the global markets to experience problems. BTC continues to be under pressure because it hasn’t been able rise above $80,000 since 4 months. The price fell to $97,000 in mid-January from its previous high. It never recovered the lost ground. It is believed that the Iran-Israel War could resume, since the Strait of Hormuz has remained closed in spite of the ceasefire.
Iran announced that it is ready to open the Strait of Hormuz, but under certain conditions. Trump, however, is not likely to accept these conditions. In an interview on Fox News, Marco Rubio, Secretary of State said. “We can’t let them get away with it.” Bitcoin may continue to fall if the deal falls through. This could lead to a larger crash on the market. BTC has already fallen nearly 18% in the last year, and it could fall further if negotiations fail.
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Source: watcher.guru
