Undervalued Despite ATH
Crypto expert Michaël van de Poppe believes Bitcoin is still way below its true worth, even after hitting a record high of over $70,000. He sees it as a hedge against inflation and a way to maintain purchasing power.
Way Higher Numbers Predicted
Van de Poppe previously predicted Bitcoin could reach $150,000 in this bull run. Other analysts, like MacronautBTC, have even suggested it could exceed $200,000.
Institutional Demand and Miners’ Supply
This bull cycle is unique because of Spot Bitcoin ETFs, which have increased institutional demand for Bitcoin. Meanwhile, miners’ rewards are expected to be halved, creating an imbalance between supply and demand.
Time for New Highs
Bitcoin’s recent ATH is just the start. Analyst Ali Martinez suggests it could take 8-11 months for Bitcoin to reach a market top, indicating it could be sometime between November 2024 and February 2025.
Corrections Expected
Galaxy Digital’s Alex Thorn cautions that bull markets aren’t always smooth, and sharp corrections should be expected along the way.
