On Wednesday (June 1), Bitcoin is trading comfortably above the $31,500 level, which is leading to some crypto analysts to believe that Bitcoin will soon be heading higher toward the $33,000 level.
According to data by TradingView, on crypto exchange Bitstamp, currently (as of 9:15 a.m. UTC on June 1) BTC-USD is trading around $31,597, up 0.08% in the past 24-hour period and up 11.72% since last Friday’s intraday low of $28,280.
Yesterday, prominent crypto analyst Michaël van de Poppe offered this technical analysis of Bitcoin’s price action:
As for well-known crypto skeptic and gold bug Peter Schiff, he seems unhappy about the positive coverage Bitcoin received yesterday at CNBC for rebounding from last week’s lows to above the $32,000 level ($BTC price set an intraday high of $32,284 at 4:40 p.m. UTC on May 31).
As for legendary tech investor Tim Draper, he explained during a podcast interview last week that he remains confident that the Bitcoin price will hit $250,000 by early 2023, just like he predicted a few years ago.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.