Coin Edition -
- The current Bitcoin bull cycle is going to be “giant,” claimed Michaël van de Poppe.
- Poppe, a prominent crypto analyst, believes altcoins will outperform in the near future.
- He also advised investors to wait for pullbacks of 25% before investing in crypto.
The current Bitcoin (BTC) cycle is going to be ‘giant,’ claims Michaël van de Poppe, a prominent analyst in the digital asset sector, while adding that the pre-halving for BTC is likely in. Poppe took to social media platform X (formerly known as Twitter) to highlight the fact that Bitcoin “never hit ATH pre-halving, but now it did. This cycle is going to be giant, maybe the supercycle.”
It is important to note that, as per CoinGecko, Bitcoin rose to its all-time high of $69,000 after three years on Tuesday, but the price of the virtual currency declined by around 8% not long after. As of 11:28 p.m. ET, the price of BTC stands at $63,620, with a 41.83% surge in trading volume.
While referring to the fall in the price of Bitcoin, Poppe noted that “corrections happen, reality kicks in, and this is probably that part.” He also predicted that altcoins are most likely to outperform BTC in the upcoming months.
More importantly, meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) have witnessed significant price increases this week, while other altcoins have also performed quite well.
Bullish predictions for Bitcoin have come from prominent players in the industry, including Robert Kiyosaki, the famous entrepreneur and author of the best-selling Rich Dad, Poor Dad. He believes that BTC will hit a price tag of $100,000 by June 2024.
Notably, Poppe also told his followers last week to avoid buying overvalued assets while emphasizing figuring out ideal entry points when trading digital assets. He advised investors to wait for pullbacks of around 25% before putting their money in an asset.
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