10-26-2022 icon

Market Observer Speculate A $30K Bullish Breakout For Bitcoin In The Coming Month

By Lucy Adegbe

There are outweighed numbers of justifications for an abrupt timeframe bullish speculations for Bitcoin as instability restriction seems ready to halt.

Bitcoin is already set to “break out significantly” with a bullish price hit by November, exchange company Eight’s owner and executive head Michael van de Poppe predicted in a Twitter thread on October 25.

Van de Poppe, amongst other bullish market predictors, guessed that BTC is ready to hit a high price of $30k in the coming month.

Bitcoin is presently displaying a unique deficiency to change, however, there are glaring signals that the trend is expected to undergo a significant shakeup.

The coin’s technical volatility indicator and Nasdaq comparably qualify as the most rigid in history, prominent observer TechDev alongside others recently noted.

“$BTC / $NASDAQ weekly Bollinger Bands are the tightest in Bitcoin’s entire history. Price VS NASDAQ peaked at BTC’s last impulse top in April 2021 and has been consolidating during the 1.5-year correction. Expect upside break and strong Bitcoin outperformance soon.”

Van de Poppe displayed more interest in the speculative breakthrough of BTC/USD increasing by about 35% in the few weeks to come.

“Within 2-3 weeks, Bitcoin will break out significantly. My guess is probably $30k… Market looking good for a last leg up,” he tweeted.

Glassnode focuses the bullish actions on long-term holders, outlining in its last released version:

“The bull case takes a view on the HODLers of last resort, whereby the supply flows out of exchanges, and into HODLer wallets is at an all-time high.”