Cryptocurrency expert Michaël van de Poppe remains optimistic about Bitcoin’s future, despite the recent correction that brought the price down to the $80,000 range. In a recent tweet to his nearly 780,000 followers on X, Van de Poppe predicted a massive rally for Bitcoin, suggesting that the leading cryptocurrency could reach as high as $250,000 this cycle, marking a 195% increase from its current value.
Van de Poppe expressed his belief that the current bull market for Bitcoin is far from over, citing the lack of euphoria in the market as evidence. He stated, “I don’t think that the cycle is over. I think it barely started, even the hype on Bitcoin wasn’t anywhere near euphoria. I do believe that we’ll see Bitcoin above $200,000-$250,000 this cycle. I also believe we’ll have one year of outperformance of the ecosystem versus Bitcoin.”
The trader also pointed out that during the 2017 bull cycle, Bitcoin experienced several significant corrections before ultimately rallying to new all-time highs. He reassured investors by stating, “Bitcoin is currently down 25% since the all-time high. That’s a normal correction, nothing strange, nothing to worry.”
Looking ahead, Van de Poppe suggested that if Bitcoin can reclaim $89,000 on the weekly chart as support, the crypto markets may see a strong performance in the coming month. He stated, “Bitcoin reached the sweet spot for entries. I think that, if we’re able to gain back above $88,000-$89,000, that this weekly provides a deep wick and we’ll have a great month into March. Utility coins to outperform.”
At the time of writing, Bitcoin is trading at $84,710, remaining flat on the day. Van de Poppe’s optimistic outlook on Bitcoin’s future performance has garnered significant attention from the crypto community, with many investors eagerly anticipating the potential rally to $250,000.
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Image Source: Michaël van de Poppe/X
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