Explosive Rally in BTC
Leading cryptocurrency analyst Michael van de Poppe has revealed that he expects a significant increase in Bitcoin (BTC) during the current bull market cycle. The senior analyst highlighted a potential surge of up to 961% in the leading cryptocurrency Bitcoin.
Explosive Rally in BTC
Popular analyst Van de Poppe, in his comments on YouTube, suggested that Bitcoin could experience an explosive rally of up to 961% and reach $400,000 based on previous bull market cycles and diminishing returns laws. The expert stated:
I still believe that this bull cycle will be bigger than the previous one because our returns are diminishing. So Bitcoin did 14x or 17x or something in between because it came from $3,000 and went to $69,000. It did even more. And I think diminishing returns, if we do 80x in this cycle from 2015 to 2017 and 20x in the second cycle here, it doesn’t mean that we have to do 5x afterwards. Because this 2019-2021 cycle was pushed down by Sam Bankman-Fried from FTX, and there are articles proving this.
$400,000 Target in Bitcoin!
Furthermore, the senior analyst stated that if the expected rise in the flagship cryptocurrency Bitcoin begins, it could surpass 20 times the lowest level of the 2023 market cycle. The analyst stated:
Diminishing returns can also mean that you will make an 18x increase from $16,318 at the beginning of 2023. If you do 20x, that means if we go and calculate the numbers, if we say “the bear market is completed,” we will do 21x. And we will do 20 times from the lowest level of the 2023 market cycle. It makes a lot of sense to say that Bitcoin can reach $300,000 to $400,000 in this bull cycle because I believe there are many new participants joining the markets and pushing the prices. We have a cycle similar to 2016-2017, and in this period, altcoins will still perform well.