Bitcoin Price To Gain More Than 10% If It Claims This Level – Top Analysts

The post Bitcoin Price To Gain More Than 10% If It Claims This Level – Top Analysts appeared first on Coinpedia Fintech News

While the star cryptocurrency, Bitcoin price has regained its lost $23K level, popular crypto analyst and trader Michael van de Poppe is flashing a bullish stance against BTC. The analyst makes an effort to inform his 647,300 Twitter followers that the one who is betting against Bitcoin’s upward movement will eventually push BTC’s price.

Van de Poppe is confident that Bitcoin will hit a target of $28,000 once the currency moves beyond $23,200.

On the contrary, Van de Poppe also claims that Bitcoin is still trading low and might drop at $21,700. Further he asserts that due to an increase in Bitcoin’s trading activity, bulls might take up the control.

At the time of reporting, Bitcoin is selling at $23,180 with a surge of 0.85% in the last 24hrs

Another analyst known as Pentoshi has also claimed a similar stance. He predicts that if Bitcoin moves past $23,300, the currency will most likely hit a target of $25,000 level. Furthermore, while analyzing Ethereum price, Pentoshi asserts that if Ethereum surpasses $1,680 then ETH will soon claim $1,900 area.

Bitcoin Records Decreased Whale Transactions

Meanwhile, Bitcoin whale transactions have decreased since Feb 2, the day when Bitcoin began its downward movement from $23,800 level. As per Santiment data, on Jan 4 Bitcoin registered transactions above $100,000, highest in 2023. However, this was short lived as immediately a month later, whale transactions hit a low of 8,000 daily.

One of the main reasons for such a drop in whale transactions is increased selling pressure from whales that held balances of 100 to 1,000 BTC.

Now, the next CPI report is scheduled to be released on Feb 14, hence if inflation drops Bitcoin might start the next bull rally.