The Analyst Predicted The Recovery Of Bitcoin To $ 69 K by The End Of The Year

Trader Michael van de Poppe is confident that the first cryptocurrency continues to move in the bull market, despite the decline to $ 42 thousand.
Trader Michael van de Poppe believes that after the collapse to $ 42 thousand, bitcoin will begin to recover and reach $ 69 thousand by the end of this year – early next year. 
According to the Poppe, the first cryptocurrency has a chance to start a V-shaped recovery, hitting the low since the end of September.








Rounding off the day with this chart on #Bitcoin.
I think that the chances for a V-Shape recovery are there. 






We'll see coming week how it unfolds, but these bounces are significant and good. 







Have a good evening! pic.twitter.com/mY2Q0rXtWG
— Michaël van de Poppe (@CryptoMichNL) December 4, 2021
 
Van de Poppe also argues that the value of bitcoin within the framework of the current correction should not fall below 40% of the historical maximum ($ 41.5 thousand). 

Overall, this should be the low of a standard 30-40% correction in the markets.
However, corrections are super wicky the past few years in #Bitcoin as there's such a massive amount of leverage in the markets. 
Through that, we overshoot.






But all good, should be done now.
— Michaël van de Poppe (@CryptoMichNL) December 4, 2021
 





Despite the collapse of the cryptocurrency to $ 42 thousand, the trader is confident that the asset is still in a bull market.

We're still in a bull market.
— Michaël van de Poppe (@CryptoMichNL) December 4, 2021
 
On the morning of December 4, the price of bitcoin did not drop to $ 42 thousand (a fall of more than 20%). Amid the collapse of the first cryptocurrency, the total capitalization of the digital asset market fell to $ 2.3 trillion. 
Also, a sharp collapse in quotations caused massive liquidations of traders’ positions for $ 2.5 billion. On December 6, Bitcoin is traded at $ 48 thousand. Over the month, the asset has fallen in price by 21%.