$100,000 Bitcoin (BTC)

Before Halving? Top Analyst Indicates Three Scenarios

BTCUSD exceeded the $70,000

level for the first time in its 15-year history, more and more experts are trying to predict the potential of its correction.

Bitcoin

BTCUSD

correction levels by Michaël

van de Poppe: $52K, then $45K?

Bitcoin

BCUSD, the largest cryptocurrency,

established momentum where a new all-time high has been achieved, says seasoned analyst and trader Michaël van de Poppe. As Bitcoin

BTCUSD

is approaching its fourth halving

event in six weeks, the asset might be at a crossroads.

#Bitcoin establishes a momentum of where a new all-time high has been achieved.

Ultimately, the halving is approaching in six weeks time.

Question will be: $100K pre-halving or after halving or correction is on the horizon and altcoins to shine?

Let's see. pic.twitter.com/h5zOy7JIC3— Michaël van de Poppe (@CryptoMichNL) March 9, 2024

Van de Poppe shares three scenarios for BTC in the midterm: It could either reach $100,000 pre-halving, post-halving, or enter a correction phase with an "altcoin summer."

Should a correction be in the cards for the orange coin, the analyst highlights $52,000 and $45,000

as potential support levels.

A number of more bearish scenarios include a further drop to mid-$30K zones or even lower.

As of press time, Bitcoin

BTCUSD is changing

hands at $68,339 with a 1.24% upsurge in the last 24 hours. The net trading volume added 35% and exceeded $56 billion in equivalent.

$105 million in BTC shorts, longs liquidated

Largely, the followers of van de Poppe are enthusiastic about Bitcoin

BTCUSD

in the

midterm and foresee growth of the asset before the halving.

The fourth Bitcoin

* BTCUSD halving event is

set to happen April 18; BTC mining rewards will drop to 3.125 coins per block.

In the last 24 hours, Bitcoin

BTCUSD

jumped

to $70,000 on some exchanges, but then retraced to $66,400. As such, both bulls and bears saw their positions liquidated.

Out of $105 million in erased Bitcoin futures, bears are responsible for $56 million in 24 hours, CoinGlass statistics say.