Bitcoin reaches $ 300,000 in this cycle
Leading strategist and trader Michaël van de Poppe has made a big prediction of bitcoin.
In a new video, Van de Pope discusses the ups and downs of the crypto cow cycle and explains why now is a dangerous time to bet on the bear market.
"If you want to bet on a bear market, bet on something that doesn't happen very often. If you do this, you are betting against the general market trend.
I'm pretty sure we're in a bull cycle, and betting on a bear market is really complicated… especially in a market where the US dollar is slowly losing value…
"I think the bet you want to bet on is crypto, and I think the bet is that you want to participate in Altcoins as well."
Van de Pope believes that as the US dollar continues to depreciate and corporate money continues to flow into bitcoin, the bull market will advance, pushing the BTC price to six digits.
"Given the fact that there is more corporate money and more acceptance and more options to buy bitcoins, for example, this week Quinn Base accepted PayPal orders for bitcoins. The higher the trend, the less supply there is," he said. This means that there is currently a high demand that the lower the supply in the market, the higher the price.
You can see that the amount of bitcoin is drastically declining as it enters hardware wallets and investment targets.
Do we get $ 300,000 or $ 500,000 in bitcoin? I think we are coming, because if you look at the value of gold right now, you see that it is around $ 12 trillion. If we count it for bitcoin, we get the price of $ 500,000. So I think the peak of this cycle will be above $ 250,000 and between $ 350,000 and $ 450,000, and I think this cycle will not end by the end of this year. "I guess we will have more significant side courses."
Van de Poop also thinks about where we are now in the beef market, saying that "we are in the bubble.com in 1998 or 1999" and that the crypto market will grow by almost 500% from here.
"The crypto market will see $ 10 trillion in value in this cycle."