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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 Michael van de Poppe offered this technical analysis of Bitcoin’s price action:
Apparently, we're holding above $31K, so it looks like $32.8K isn't too far away for #Bitcoin. pic.twitter.com/92UHQ4Oob0
— Michael van de Poppe (@CryptoMichNL) May 31, 2022
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).
CNBC is so excited about Bitcoin's rise back above $32K. When #Bitcoin is falling @CNBC barely talks about it. But when it makes a big move up they can't stop talking about it. The "experts" invited on air to comment all work in the #crypto industry, so they're extremely biased!
— Peter Schiff (@PeterSchiff) May 31, 2022
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.
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