Van de Poppe Claims Bitcoin Surge Continuation in Play

On June 3,  Michael van de Poppe, CEO of Eight, stated in a tweet that “Bitcoin held the $30k level, so long it would still be intact from the $29.3k region. Now flipping $30.3k would be a continuation towards $31.8k possible.”

After a late afternoon surge on Thursday, bitcoin (BTC) was carried over the $30,000 point, but the mood amongst crypto investors still seems to be pessimistic. This goes slightly against van de Poppe’s speculation about crypto.

Another thing that goes against van de Poppe’s post is the fact that many believe that the crypto industry is currently in a “contraction phase that is settling into a period of stasis. This is more commonly known as a “crypto winter”.

Oanda Senior Market Analyst Edward Moya, in turn, believes: “Bitcoin will get its groove back once bearish sentiment on Wall Street improves, but that will likely take several more weeks.”

One fact that might count in van de Poppe’s favor is the fact that some of the traditional indices were in the green over the last 24 hours. The Nasdaq jumped by 2.6% and the S&P 500 climbed by 1.8%. Even gold jumped by more than a percentage point.

BTC is still above the $30k point and is currently worth $30,420.39 after a 1.59% increase in price over the last 24 hours, and after reaching a high of $30,633.03 over the same time period.

Bitcoin also saw a 24-hour trading volume of $27,573,631,861, which is 34.35% less than yesterday’s number.