Crypto Trader Michaël van de Poppe Predicts Massive Bitcoin Surge
Crypto trader Michaël van de Poppe is forecasting a significant surge in Bitcoin’s value during the current bull market cycle. Van de Poppe, in a recent strategy session, tells his YouTube subscribers that based on previous bull market cycles and the laws of diminishing returns, Bitcoin could potentially skyrocket by 961% to reach as high as $400,000.
Past Bull Market Cycles and Diminishing Returns
Van de Poppe believes that this bull cycle will surpass the previous one due to diminishing returns. While the previous cycle saw a 14x or 17x increase in Bitcoin’s value, starting from $3,000 and reaching $69,000, the current cycle may experience even greater growth. The trader suggests that the downward pressure on Bitcoin’s price during the 2019-2021 cycle influenced its performance. He argues that diminishing returns could result in an 18x or 20x increase from the current price of around $16,318.
A Bull Cycle with New Participants
Van de Poppe asserts that it is reasonable to expect Bitcoin to reach $300,000 to $400,000 in this bull cycle. He attributes this prediction to the influx of new participants entering the market and pushing prices higher. The trader anticipates a similar market cycle to that of 2016-2017, where altcoins also performed well.
Current Bitcoin Price
At the time of writing, Bitcoin is trading at $37,680.
Hot Take: Michaël van de Poppe’s Bullish Outlook
Crypto trader Michaël van de Poppe is optimistic about Bitcoin’s future performance in the current bull market cycle. He predicts that Bitcoin could surge by up to 960%, reaching a price range of $300,000 to $400,000. Van de Poppe bases his forecast on previous bull market cycles and the potential for diminishing returns. With new participants entering the market, he expects a similar market cycle to that of 2016-2017, where altcoins also saw significant growth.
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