Crypto analyst Michael van de Poppe expects Bitcoin to keep going toward new highs
In the meantime, the Bitcoin Fear and Greed Index remains in the greed zone, suggesting that investors are now likely to begin selling part of their BTC.In his X post published today, Poppe shared a Bitcoin chart with a clear upward movement that has been taking place recently on it. The analyst stated that this is"the classic grind upwards" for Bitcoin.
He believes the target for BTC remains at the $36,500-$37,000 levels, and Bitcoin will continue moving toward them."Classic liquidity drops take place, but the trend is clearly upwards," Poppe added.Since the end of last week, the Bitcoin Fear and Greed Index has been showing the"greed" reading. Today, this index shows 71. It has moved there from 65 since Friday.
When the index enters the"fear" zone, it means that they may begin buying. As if to confirm this assumption, over the past few days, several large chunks of Several large transfers were picked up by Whale Alert tracker, carrying 27,775 BTC, and several smaller transfers under 1,000 BTC.Despite the market being in the"greed" zone, according to analyst Ali Martinez, the BTC network has surpassed an important new milestone as it continues to grow.
On Sunday, in a single day, Martinez writes in his X post, more than 700,000 new Bitcoin wallets were created. He is certain that Bitcoin network growth indicates a possible price surge as well.Munger's critique of Bitcoin was about throwing a"stink ball" into the well-refined recipe of traditional finance. He believes that rather than helping to support the current financial system, Bitcoin is disrupting it.
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