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April 20, 2024
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Bitcoin Price Poised To Rally 10x This Crypto Bull Run

The post Bitcoin Price Poised To Rally 10x This Crypto Bull Run appeared first on Coinpedia Fintech News

Renowned crypto strategist Michaël van de Poppe shared his bullish outlook on Bitcoin (BTC), reflecting a deep analysis of market dynamics and broader economic trends. Van de Poppe’s prediction of a potential 12x rally for Bitcoin amidst the Spot Bitcoin ETFs recorded a substantial net inflow of $493.3 million in just one day.  

Why is Bitcoin Surging? Analyst Opens All Probabilities

Spot Bitcoin ETFs- Looking at the current uptrend, Van de Poppe emphasizes the transformative power of spot Bitcoin ETFs, highlighting the substantial inflows observed in recent weeks. These ETFs, including BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund, have attracted billions of dollars, signaling a significant shift toward mass institutional adoption of Bitcoin.

The analyst’s optimism comes after BlackRock’s iShares Bitcoin Trust received an impressive $374.7 million, while Ark 21Shares Bitcoin ETF and Fidelity’s Wise Origin Bitcoin Fund raised $40 million and $151.9 million, respectively.

Micro Factors At Play!

Beyond ETF inflows, van de Poppe points to macroeconomic factors driving Bitcoin’s price. He sees Bitcoin as a way to protect against inflation and financial uncertainty, especially now that the US national debt and inflation rates worldwide are increasing. He also agrees with wider sentiments of considering Bitcoin as “digital gold,” a store of value that isn’t affected by the changes in fiat currencies. 

Bet on a Four-Year Cycle

He also digs into the four-year cycle of Bitcoin, in which its price fluctuates every four years,

Analysts suggest that the current cycle may be the final one, making surpassing previous all-time highs in subsequent cycles increasingly difficult. 

Comparing Dot-com bubble 

Drawing parallels to the dot-com bubble, Van de Poppe predicts a significant market cycle in the cryptocurrency space. He suggests that the current market dynamics resemble those of the dot-com era, with heavy speculation and investment driving prices to unprecedented levels.

Bitcoin to Hit $500,000 this bull cycle?

While offering price targets ranging from $250,000 to $600,000 for Bitcoin, van de Poppe acknowledges the uncertainty inherent in forecasting market movements. However, his projection of a prolonged bull cycle lasting until 2026 or 2027 reflects his confidence in Bitcoin’s long-term viability and resilience. 

What You Need To Do? 

Van de Poppe offers investment advice for sailing smoothly in an unstable market. He recommends maximizing Bitcoin holdings during the bull cycle, switching to cash during market instability, and reinvesting following major price corrections. He emphasizes the importance of focusing on purchasing power rather than USD valuations when evaluating investment decisions.

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