Crypto analyst Michaël van de Poppe envisions significant growth for Bitcoin in the current cycle, projecting gains that could far surpass its previous milestones.
Van de Poppe suggested Bitcoin could potentially soar to $500,000 during this cycle.
He referenced the rainbow chart, explaining that the previous cycle didn’t reach its expected peak. According to him, as time progresses and cycles lengthen, Bitcoin’s price tends to rise naturally.
Currently, Bitcoin is trading at $106,050, with a recent record high of over $108,000 set on Monday.
Van de Poppe also expressed optimism about altcoins, suggesting they’re on the verge of a major breakout. He advised sticking with current positions to maximize returns, estimating potential gains of 3-5x in Bitcoin value for those holding altcoins.
He highlighted that many altcoins remain in accumulation phases against Bitcoin, signaling an opportunity for significant upward movement. However, he cautioned that the upcoming rally could be highly volatile, with sharp corrections similar to those witnessed recently, making it crucial for investors to strategically take profits during the climb.
MicroStrategy, now rebranded as Strategy, has made another move to expand its Bitcoin holdings, filing with the U.S. Securities and Exchange Commission (SEC) to offer $500 million worth of shares.
The ongoing battle between gold and Bitcoin, often referred to as “digital gold,” has recently seen gold pull ahead in performance.
CryptoQuant CEO Ki Young Ju has warned that Bitcoin’s current market cycle may have already peaked, suggesting that traders shouldn’t anticipate a major rally in the next six to twelve months.
U.S. spot bitcoin ETFs experienced a surge in demand on Monday, recording $274.6 million in net inflows—their highest since early February.