Crypto trader Michaël van de Poppe predicts a huge rise in Bitcoin (BTC) in the current bull market cycle.
In a new strategy session, Van de Poppe tells His 161,000 YouTube subscribers were convinced that, based on previous bull market cycles and the laws of diminishing returns, Bitcoin could explode by 961% from its current value to as high as $400,000.
“I still believe that this bull cycle will be bigger than the previous bull cycle in the sense that we had diminishing returns. So Bitcoin did a 14x or 17x or something in between because it went from $3,000 to $69,000. It did even more.
And then I don’t think diminishing returns mean that if we did an 80x in this cycle from 2015 to 2017 and a 20x in the second cycle here, that we should do a 5x after that. Because this [2019-2021] The cycle was pushed down by Sam Bankman-Fried, with FTX pushing the price of Bitcoin down during this period, and there were articles proving this point.
Falling returns could also mean this from now on [in early 2023 at $16,318], you do an 18x. You do a 20x, which means when we calculate the numbers, we calculate the numbers [from 2019-2021] and we say, hey, the bear market is over, we’ll do a 21x. And from [2023 market cycle low]we’re going to do 20x.
It is very reasonable to say that Bitcoin could go to $300,000 to $400,000 in this bull cycle because I think there will be a lot of new participants entering the markets, pushing up prices making it very likely that we have a cycle of 2016-2017, and during this period altcoins will still do well.”
Bitcoin is trading at $37,680 at the time of writing.
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