A widely followed crypto strategist thinks Bitcoin’s current strength will push BTC to a price level this cycle that exceeds people’s expectations.
Analyst Michaël van de Poppe tells his 711,000 followers on social media platform
According to the crypto trader, he sees BTC generating more than four times profits from current levels before witnessing a cycle top.
“Bitco still faces crucial resistance.
If this breaks through, we will see a continuation towards new record highs.
Bitcoin at $70,000 before the halving.
Probably $300,000 this cycle.”
From de Poppe further say that the crowd is probably underestimating the strength of Bitcoin and the rest of the crypto markets this cycle.
“- The markets are stronger than we think.
– Dips on oneltcoins are huge entries.
– There is a likely case of a new all-time high before the halving.
– The rotation towards altcoins is coming.”
At the time of writing, Bitcoin is worth $71,289, up more than 2% in the past 24 hours.
As for altcoins, Van de Poppe expected traders to rotate their capital into three crypto subsectors.
“People ask; ‘Are we going to have an ‘altseason?’
Yes we do.
We always have one, we’ve seen memes, the SOL ecosystem and artificial intelligence.
The next ones are likely to be the ETH ecosystem, DePIN (decentralized physical infrastructure networks), and RWA (real-world assets).
DePIN uses blockchain technology to manage and maintain physical infrastructures such as energy networks, while RWA refers to the tokenization of real assets such as shares, commodities and real estate.
Van de Poppe also looks at the TOTAL3 chart, which tracks the market capitalization of all altcoins minus Ethereum (ETH) and stablecoins. According to the analyst, TOTAL3 continues to show signs of strength after a weekly close above $700 billion.
“It doesn’t look like TOTAL3 (altcoin market cap) has finished its rally after this weekly close.”
At the time of writing, TOTAL3 is hovering at $749 billion.
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Generated image: DALLE3