Popular crypto trader and market analyst Michaël van de Poppe believes that Bitcoin will go above $250,000 before the end of the current bull cycle.
During a YouTube video for his YouTube channel that was published on May 1, Van de Poppe said that he was bullish on Bitcoin in the short term and pushed back on the notion of a looming bear market:
“If you want to bet on a bear market you’re betting on something that’s happening not too often. If you do that, you’re betting against the general trend of the market…
“I’m quite sure that we are in a bull cycle and betting on a bear market is really complicated to do… especially in a market where the US dollar is losing value over time…
“I think the bet that you want to be involved in is crypto and I think the bet is you want to also be involved in altcoins…“
As for how high the Bitcoin price could go during the current bull cycle, he said:
“Are we going with Bitcoin towards $300,000 or $500,000? I guess we will because if you look at the valuation of gold at this stage, it’s about $12 trillion. If you calculate that for Bitcoin at this stage, it’s already about $500,000 that we’re going to hit. So if we are going to have a top this cycle for Bitcoin, I guess it’s going to be above $250,000 and closer to $350,000-$450,000 and I guess it will also be longer than this year. I guess we will have more substantial sideways periods.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
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