Bitcoin Approaches Record Highs: Where Are the Key Buy Levels in Case of a Drop?

Bitcoin is on the verge of breaking its all-time high, but what happens if the price takes a short-term dip?

With analysts predicting a possible retracement to $67,000, now might be the perfect time to prepare for buying the dip.

Explore why experts like Michaël van de Poppe see this range as crucial, and what other market factors could influence BTC’s next big move.

Minor Adjustment Before Bitcoin Hits New All-Time High?

Michaël van de Poppe, a well-known analyst with over 730,000 followers on X (formerly Twitter), commented on October 18, 2024, that "Bitcoin (BTC) may not drop as much as I initially thought."

Van de Poppe, famous for his cryptocurrency price predictions, frequently shares insights on the prices of BTC and other digital assets through his X account and YouTube channel.

Although Van de Poppe had previously predicted that Bitcoin could experience a significant short-term dip before resuming its long-term upward trend, his October 18 post suggested that BTC may dip to around $65,000 before reaching a new all-time high.

He further explained that factors such as the European Central Bank's (ECB) interest rate cuts and U.S. employment reduction data might accelerate Bitcoin's price surge.

$67,000 as a Key Buying Zone?

In another post on October 21, 2024, Van de Poppe expressed that Bitcoin is "on the verge of breaking its all-time high." According to his analysis, Bitcoin may rise to approximately $71,679 before retracing to $67,000 and then climbing again.

He commented, "I don't know if Bitcoin will break its all-time high this month or next, but with a bull market on the horizon, if this scenario plays out, I’ll be buying the dip."

The accompanying chart in his post suggested that the $66,000 to $67,000 range could be an ideal buying opportunity for those looking to capitalize on a potential price dip.

While long-term predictions for Bitcoin remain optimistic, with many experts forecasting further gains, short-term forecasts vary even among bullish analysts.

Robert Kiyosaki, another prominent figure known for his bullish stance on Bitcoin, recently issued a warning. On October 13, 2024, Kiyosaki suggested that all assets, including gold, silver, and BTC, could face a significant crash.

With the U.S. presidential election slated for November 5, 2024, the cryptocurrency market is expected to remain cautious. However, many investors believe that even if Bitcoin experiences a short-term decline, it will rebound in the long term.

Kiyosaki echoed this sentiment in his October 13 post, stating that if BTC crashes, he plans to buy more at lower prices.

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