Popular crypto analyst Michaël van de Poppe, Bitcoin $107,285.9He stated that it could reach a striking size in the current cycle. Van de Poppe predicts that the leading crypto asset in terms of market cap could rise to the $500,000 level. The analyst’s prediction comes at a time when Bitcoin is reaching new record highs. According to the current market price, Bitcoin is traded at $ 105,865. It reached an all-time high of $107,822 on Monday.
Bitcoin Price and Rainbow Chart Commentary
Van de Poppe stated that the Bitcoin price should reach much higher levels in this cycle. The analyst made an evaluation especially based on the “rainbow chart”. This chart compares current price movements with past cycles. According to Van de Poppe, Bitcoin failed to reach the “overpriced” phase of the last cycle. This means the current cycle may last longer. He said that if the period is extended, the price of Bitcoin will also increase linearly. The analyst emphasized the importance of taking profits by drawing attention to volatility.
Expectation of “Next Wave” in Altcoin Markets
Michaël van de Poppe stated that altcoin markets are preparing for the next upward wave. According to the analyst, maintaining positions during this period can provide high returns. Due to Bitcoin’s dominance, altcoins are currently in the accumulation phase. Van de Poppe stated that this period offers a great opportunity for investors.
The analyst continued his explanation with the following words: “Most of the altcoins are in the accumulation zone in Bitcoin pairs. This could be a great sign to buy. “Depending on risk tolerance, we could see 3 to 5 times that.” According to the analyst, investors should act cautiously during this period of volatility. This way they can get maximum returns with profit taking strategy.
According to Van de Poppe’s predictions, both Bitcoin and altcoin markets are entering a critical period. It is of great importance for investors to act carefully and strategically.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
