Bitcoin Price Prediction: Despite BTC Resilience, XRP20 Coin Might be Next Big Thing

Updated: 10 August 2023

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Despite the recent price performance, the crypto industry seems to have great expectations of Bitcoin, and many seem to believe that it will blow up soon, likely before the end of the year. Despite historical data suggesting that a Bitcoin rally should not happen until at least six months after the next halving, crypto trader Michael van de Poppe recently announced that he is very bullish on the coin.

Rather popular on X, Van de Poppe told his followers that he expects Bitcoin to be close to a party that is about to start.

#Bitcoin is close to a party. pic.twitter.com/Bt149qRz5X

— Michaël van de Poppe (@CryptoMichNL) August 9, 2023

His prediction suggests that the coin should soon climb back to $30k and continue increasing. Commenting on the coin’s current price, which sits under $29,700, the famous trader said that Bitcoin is consolidating.

#Bitcoin party starts when we break $29,700.

Until then it's just consolidation.

More background:https://t.co/nMeISWLMLZ pic.twitter.com/Ekd9P6kg7B

— Michaël van de Poppe (@CryptoMichNL) August 8, 2023

Van de Poppe is hardly the only one bullish on the crypto industry’s oldest coin. Another trader and analyst, CredibleCrypto on X, said that he expects Bitcoin to see a triple-digit rally before the year runs out. According to him, Bitcoin could skyrocket by 130% and reach the price of $70k+ in 2023.

70k+ this year, in case I wasn't clear before 🥹 $BTC https://t.co/oS7v2ZonC8

— CrediBULL Crypto (@CredibleCrypto) August 8, 2023

Even Fundstrat’s leader of digital asset strategy. Sean Farrell stated in a recent investor note that the existing balance of $25 million in daily BTC mining rewards and equally strong daily demand could allow the coin to see a substantial shift. Farrell’s prediction relies on the approval of Bitcoin ETF, which, followed by the next year’s halving, could see BTC skyrocket to $180,000 in 2024.

What is happening with the Bitcoin price now?

While Bitcoin price prediction for the future seems quite optimistic, Bitcoin price right now is once again rejected from the $30k level. Bitcoin surged earlier this week, going from $28.75 to over $30k, dropping back to $39.4k on August 9.

Since then, the coin has been trading sideways, with resistance at $29.6k, keeping it from going back up. Meanwhile, $29.4k has been vital enough support for the coin to stay above it and not sink back to $29,000.

Viewing the current price action, analysts found it suitable for scalping and accurate as long as traders observe the price movement.

However, one trader thinks that the worst has yet to come and that Bitcoin will see the bearish wave’s main impact after the candle’s end this week. Bitcoin has been surrounded by heavy uncertainty recently, so this may or may not come to pass. But, if it does happen, Bitcoin holders should be ready, so keeping an eye on the price action is imperative for those who seek to avoid losses.

XRP20 presale closing in on $2 million raised — halfway to soft cap

Despite Bitcoin’s uncertainty, many in the crypto industry are excited to go for XRP20 — a newly-launched ERC-20 version of XRP.

The token was created to reignite the passion of the XRP Army for their favorite cryptocurrency, now in Ethereum’s ecosystem. With XRP20, token holders can access smart contracts, DeFi functionalities, and more.

So far, the project has raised $1.82 million, closing in on $2m. Each XRP20 token is valued at $0.000092 and can be bought with USDT, ETH, or BNB.

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