Two catalysts could fuel Bitcoin rally to $30,000, says crypto strategist Michal van de Poppe

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Popular crypto analyst Michal van de Poppe says he is studying two macro catalysts that could trigger a sharp rise in Bitcoin (BTC) to $30,000.

The crypto strategist tells his 664,200 Twitter followers that Bitcoin has been growing lately and a big bounce is in the cards.

“The chances of a relief rally have increased recently, and I think that looks good.

All need to be fueled by a bigger than expected fall in inflation and the potential pause in the hikes.

This will give Bitcoin relief towards $30,000.

At the time of writing, Bitcoin is changing hands at $17,435. A move towards the Van de Poppe target suggests more than 72% upside potential for BTC.

To combat high inflation, the Federal Reserve raised interest rates several times last year, raising the federal funds rate from 0% to 0.25% in January 2022 to 4.25% and 4.50% in December.

A high interest rate environment is generally bearish for risky assets like Bitcoin and crypto, as investors have to pay more in borrowing fees to fund new investments.

Meanwhile, a pivot in the Fed’s tight monetary policies could trigger an influx of investment into risky assets.

Van de Poppe also says he is awaiting the release of the latest printout of the Consumer Price Index (CPI), due Jan. 12. Traders are watching the CPI data closely to see if inflation is receding, as this could put pressure on the Federal Reserve to reconsider its hawkish stance.

Looking closer at Bitcoin, Van de Poppe expects BTC to pull back before the bulls can clear resistance around $17,500.

“Bitcoin continued the rally and is entering resistance.

Doubt that we will burst all at once, requires clear conviction in the next 24 hours, otherwise a bearish divergence is possible.

Lower delay:

Must stay above $17,350 to continue rallying otherwise false.

Source: Michal van de Poppe/TwitterDon’t Miss a Beat Subscribe to receive crypto email alerts straight to your inbox Check the price action Follow us on Twitter, Facebook and Telegram Surf the Daily Hodl Mix Check the latest news Daily Hodl is not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

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