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 to 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.
