Popular strategist and crypto trade Michael van de Poppe gave his predictions for bitcoin’s price prospects, saying the top is still years away.
In a recent trading video, van de Poppe revealed that he expected the current bitcoin price hike to reach the top in 2022, not next year.
Given that the previous cycle lasted from November 2013 to December 2017, I still maintain my opinion that the next peak in the cycle for this cryptographic cycle will be 2022/2023. I’m not yet one of the guys who expects Bitcoin to reach the top in 2021.
Van de Poppe went on to say that he expected the market to be a little difficult during the first months of 2021, before reaching a new peak.
The popular trade said:
We can derive these Fibonacci levels based on this previous boost wave, the lowest at $ 9,800, high around $ 29,000, the first target is $ 41,000, the second $ 60,000. If we do this from the whole low so far, you can really start to aim for $ 70,000, which is not harmful in case we get this fix, start working, have the new season and then start to blow up again.
Van de Poppe predicted that the price of bitcoin would accelerate in 2022 with a run to $ 200,000 or $ 300,000, forming the top of the current price cycle.
He also had time to deal with the sudden drop in the XRP rating, saying he would continue to underperform over the next year.