A widely followed crypto analyst believes that Bitcoin (BTC<\/a>) has officially entered bull market territory and is now primed for a rally toward $50,000.<\/p>\n Trader Micha\u00ebl van de Poppe tells<\/a> his 669,700 followers on the social media platform X that the \u201cBitcoin bull market is here.\u201d<\/p>\n Van de Poppe predicts that Bitcoin will rally to as high as $50,000 in the coming months before witnessing a pullback and surging to a new all-time high (ATH).<\/p>\n \u201cI think we\u2019ll see Bitcoin hit resistance at $38,000, but most likely we\u2019ll continue toward $45,000-$50,000 pre-halving.<\/em><\/p>\n After that, consolidation and sideways action for a long period before we start making new ATHs.\u201d\u00a0<\/em><\/p>\n Looking at the trader\u2019s chart, he appears to predict that Bitcoin will see $50,000 in January 2024, a few months ahead of BTC\u2019s halving event.<\/p>\n The halving, which has historically coincided with Bitcoin bull runs, slashes BTC miners\u2019 rewards in half and is slated for April 2024.<\/p>\n For now, Van de Poppe thinks that Bitcoin is in the midst of a consolidation period and a dip below $33,000 is still on the table.<\/p>\n \u201cBitcoin technically constructing a range here.<\/em><\/p>\n Slight correction towards $33,300 and quickly bought up.<\/em><\/p>\n If the lower boundaries are reached, probably sentiment will flip bearish ($32,800), but that would signal a great long opportunity.\u201d\u00a0<\/em><\/p>\n At time of writing, Bitcoin is worth $34,497.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
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