Bitcoin Rebound to $80K Highlights Strong Market, Analyst Foresees Significant Gains in 612 Months
Analyst Michaël van de Poppe believes that Bitcoins push toward $80K and rising liquidity could drive prices significantly higher over the next 612 months.Over the past week, Bitcoin's price has fluctuated sharply, falling from recent highs and sparking renewed attention from market participants. Specifically, a notable drop occurred on April 7, when Bitcoin plunged from $87,000 to below $75,000 before showing signs of recovery. By April 8, Bitcoin briefly touched $80,000 before retracing again.Notably, the recovery near the $80,000 mark drew attention from analysts. According to Michaël van de Poppe on X, Bitcoin reaching this resistance level points to strong market momentum. While uncertainty remains over future short-term moves, he acknowledged that ongoing liquidity inflows could influence higher price levels in the coming months.https://twitter.com/CryptoMichNL/status/1909500305517007027Responses to van de Poppes post on X have been varied. One commenter referred to the short-term market as choppy waters but expressed a bullish outlook for the mid- to long-term future.Another commenter disagreed, forecasting a significant price drop in the near future. A third observer noted that rising liquidity often benefits assets with limited supply, observing that Bitcoin once again exemplified this trend.Network Activity Points to Interest in BitcoinMeanwhile, data from IntoTheBlock highlighted key indicators of rising network engagement. The number of new Bitcoin addresses grew by 6.66% over the past seven days, signaling consistent user interest.
Text source: The Crypto Basic
