Crypto trader Michaël van de Poppe is predicting a massive Bitcoin (BTC) surge in the current bull market cycle.

In a new strategy session, Van de Poppe tells his 161,000 YouTube subscribers that based on previous bull market cycles and the laws of diminishing returns Bitcoin could explode 961% from its current value to as high as $400,000.

“I still believe that this bull cycle is going to be bigger than the previous bull cycle in the sense that we had diminishing returns. So Bitcoin did a 14x or 17x or anything in between because it came from $3,000, went to $69,000. It even did more.

And then I think that diminishing returns doesn’t mean that if in this cycle from 2015 to 2017, we did an 80x and in the second cycle here, we do a 20x, that we need to do a 5x after that. Because this [2019-2021] cycle was pushed downwards by Sam Bankman-Fried with FTX pushing down the price of Bitcoin during this period, and there were articles proving that point.

Diminishing returns might also mean that from here [in early 2023 at $16,318], you do an 18x. You do a 20x, which means that if we go and we calculate the numbers, so we calculate the numbers [from 2019-2021] and we say, hey, the bear market has been done, we do a 21x. And from [2023 market cycle low], we’re going to do 20x.

It is very reasonable to state that Bitcoin might be going to $300,000 to $400,000 in this bull cycle, as I think that there are many new participants joining the markets, going to push the prices through which it is very likely that we’re going to have a 2016-2017 type of cycle, and in this period altcoins will still do well.”

Bitcoin is trading for $37,680 at time of writing.

I

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Generated Image: DALLE3



Read the full article here

Share.

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision