Bitcoin Could Soar by 50% in First Year of Bull Cycle, Says Analyst
A popular crypto trader is offering a new perspective on Bitcoin’s potential during the first year of a bull cycle.
In a recent video session, crypto analyst Michaël van de Poppe shared with his YouTube subscribers that Bitcoin could potentially increase by 50% from its current value.
“We’ve witnessed a one-year bear market. We’ve witnessed the one-year accumulation. And now we’re getting ourselves into the period of the first year of the bull cycle (which is purple) which means that most likely the high is going to be around $50,000 to $55,000.”
According to van de Poppe’s chart analysis, Bitcoin appears to be following a four-year cycle pattern, including a bear market period, an accumulation phase, the first year of a bull market, and finally, the second phase of a bull market when a new all-time high is reached.
The analyst also believes that altcoins will begin to rally now that Bitcoin’s bear market period has ended.
“We’re also going to have a period where the altcoins are starting to wake up substantially before we break the all-time high, which is what I call the bull phase two. So in between we are going to see altcoins doing really well. And we’re starting to see some momentum, which we have been seeing with Chainlink, which we have been seeing somewhat with some other altcoins.”
At present, Bitcoin is trading at $36,689.
Hot Take
Van de Poppe’s insights suggest that Bitcoin could experience significant growth in its first year of a bull cycle as it enters the purple phase. His analysis also indicates that altcoins will likely perform well as they begin to rally ahead of Bitcoin’s all-time high.
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