Bitcoin Analyst Forecasts Consolidation with $500K Long-Term Target

Bitcoin Consolidation Predicted for Coming Months

In the last day, Bitcoin (BTC) has experienced a minor gain of 0.7%, pushing its market price above the $42,000 mark. This comes as a positive sign for investors who were concerned about the recent 20% price decline following the approval of the Bitcoin spot ETFs earlier this month. Popular crypto analyst Michaël van de Poppe has released a prediction indicating that Bitcoin may enter a consolidation state in the coming months, trading between $37,000 and $48,000. This forecast suggests that Bitcoin could maintain its current upward trajectory and potentially reach the $48,000 zone before any significant pullback.