"Follow him whether you want to believe it or not, but whatever you do, you have to be careful."
Michael van de Poppe, a leading cryptocurrency analyst predicts that Bitcoin (BTC) will undergo a 40% price correction first before continuing to climb higher up to $150,000.
Poppe also said that sentiment is a false indicator as emotions always exceed reality and this means that sentiment is the cause of many people losing money which was proven when the price of BTC rose to $52,000.
Not only that, he also warned investors and traders to use a strategic game plan, therefore short-term traders are advised to be careful especially when the price of crypto canak quickly.
Going back to his prediction, a pullback is expected to occur after BTC price peaks between $53,000 and $58,000, so here it can be seen that long-term investors can benefit by waiting for the standard 20% to 40% correction before entering the crypto market.
According to Poppe, negative macroeconomic developments can trigger a rapid bearish swing in BTC and frankly when macroeconomic events are slightly negative, it is a sign for the digital asset to make a correction.
Despite the potential for short-term volatility, Poppe expressed his confidence in BTC's long-term prospects where he predicts the price will definitely reach $150,000.
As of this writing, the price of BTC has jumped by 0.67% to $52,069 in the last 24 hours with a market cap of $1 billion and is up 7.24% over the last week.
