Crypto trader Michaël van de Poppe predicted a huge increase for the leading cryptocurrency.
Addressing 161,000 YouTube subscribers, Poppe suggested that based on past bull market cycles, Bitcoin could rise 961 percent from its current value to $400,000.
“I still believe this bull cycle will be much bigger than the previous one because our returns are decreasing. Bitcoin rose from $ 3,000 to $ 69,000, experiencing an increase of 14x – 17x. He did even more.
Just because it was done 80x from 2015 to 2017 and then 20x doesn’t mean we should do 5x now. The 2019-2021 cycle reached this point as FTX drove the price of the asset down. There are also articles that prove this.
Diminishing returns could mean an 18x increase from $16,318 at the beginning of 2023.”
The trader claimed that it is very logical to say that Bitcoin value will lie somewhere between $300,000 and $400,000 in the coming bull cycle. According to him, many participants who want to enter the markets are currently waiting.
Van de Poppe pointed out that there was a cycle similar to 2016-2017 and predicted that altcoins would perform well during this period.
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