- Michael van de Poppe forecasts Bitcoin trading between $85,000 and $88,000 by May 2026.
- Bitcoin currently trades at $76,900 after recovering from an April low of $65,000 and a recent flash crash.
- Geopolitical tensions, particularly around the Strait of Hormuz, continue to pressure Bitcoin and broader markets.
Renowned analyst Michael van de Poppe predicts Bitcoin could surge above $85,000 next month, suggesting a major rebound from its current volatile state. This forecast follows a strong April recovery where BTC climbed from $65,000 to $76,000.
Consequently, his technical analysis indicates the market is “still shaping up for more upside.” However, Bitcoin remains under significant pressure, unable to break the $80,000 barrier for four consecutive months.
Meanwhile, the cryptocurrency’s struggles are linked to persistent geopolitical instability. The closure of the Strait of Hormuz, a critical global oil route, weighs heavily on investor sentiment.
Iran announced that it is ready to open the Strait of Hormuz, but under certain conditions, according to reports. Consequently, US opposition to these terms could reignite regional conflict and trigger a deeper market crash.
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