Renowned cryptocurrency analyst Michaël van de Poppe is optimistic about the future gains of Bitcoin in this cycle, suggesting that the progress BTC has already made could be overshadowed by what lies ahead.
Sharing his insights with his 753,500 followers on X, Van de Poppe predicts that the leading cryptocurrency by market cap could potentially reach a price of $500,000 in the current cycle.
“The rainbow chart indicates the following:
- The previous cycle should have experienced significantly higher levels (it did not reach the extreme phase).
- If this cycle extends over a longer period for #Bitcoin, the price will naturally surge.”
As of now, Bitcoin is trading at $105,865 with a recent all-time high of $107,822 achieved on Monday.
In addition, Van de Poppe believes that the altcoin markets are poised for their next significant wave.
“The strategy is to maintain positions as this presents an opportunity to maximize returns. Depending on your risk tolerance, your positions could potentially yield returns of 3-5x in BTC valuations.
Most altcoins have yet to break out of their accumulation phase in their Bitcoin pairs, indicating a favorable setup for a major move. It is crucial to capitalize on this upcoming surge, although caution is advised as volatility and market corrections are expected.”
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Generated Image: Midjourney