Crypto analyst Michaël van de Poppe believes the Bitcoin bull market is far from over, despite recent price dips. He’s predicting a huge price jump for Bitcoin.
Bitcoin to Hit $250,000?
Van de Poppe, who boasts a massive following on X (formerly Twitter), forecasts Bitcoin could reach a staggering $250,000 this cycle. That’s a massive 195% increase from current prices. He argues that the current market excitement around Bitcoin is still relatively low, suggesting there’s plenty of room for growth. He expects Bitcoin to significantly outperform other cryptocurrencies for a year before other coins catch up.
Past Corrections, Future Gains?
Van de Poppe points to the 2017 bull run as an example, highlighting that Bitcoin experienced several significant corrections before reaching its all-time high. He downplays the current 25% drop from the all-time high as a normal correction, nothing to be overly concerned about.
Key Price Level to Watch
The analyst suggests a positive outlook for the next month if Bitcoin can regain support at around $88,000-$89,000 on the weekly chart. He believes reclaiming this level would signal a strong rally, with “utility coins” potentially outperforming Bitcoin.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions.
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