Crypto enthusiasts allowed the growth of the main digital coin in the near future

Well-known analyst Michael Van de Poppe believes that the correction in the cryptocurrency market is coming to an end. The price of bitcoin passed the bullish golden cross pattern and settled below $23,000.

The expert noted that the price of the first crypto coin is still under reduced pressure and may fall to $21,700. Poppe refers to the technical index of relative strength RSI, which indicates that the currency is overbought or oversold, which can also become a prerequisite for the fall in the BTC rate in the near future.

According to CoinGecko, the price of Bitcoin is $21,920. Over the past 7 days, the price of the cryptocurrency has fallen by almost 7%.

Meanwhile, the head of Сryptorg Andrey Podolyan pointed out that the BTC rate almost completely copied the movement of the S&P 500 index. The expert noted that he “sees a further growth opportunity, which means that the crypto market will continue to experience positive.”

“There will be corrections, but we see how eagerly they are bought off. For bitcoin, I would like to see a target level in the region of $25,100,” Podolyan said.

BitRiver financial analyst Vladislav Antonov said that the rise in the cost of bitcoin and interest in risky assets were previously observed against the backdrop of a speech by Fed Chairman Jerome Powell. It said that a significant drop in inflation is expected this year, and in 2024 it will certainly fall to 2%.

“His comments bolstered investor hopes for a less aggressive policy that had faded since Friday’s US jobs report. There was a slight “swing” during the speech, as he said that the regulator would raise rates more than expected if labor market and inflation reports continue to be strong,” the expert noted.

Antonov also admitted that by the end of this week, investors may start to storm the $25,000 mark. If they succeed, then we should expect the bitcoin rate to accelerate to the levels of $26,000-$26,200.

What do you think, whose prediction will come true?