• Crypto analyst Michaël van de Poppe predicts that Bitcoin (BTC) could rally by up to 1,400% amid growing institutional interest.
• He believes the crypto market cap could reach between $10 trillion and $20 trillion during this cycle.
• Van de Poppe notes that a correction in BTC could take place around $42,000.
Crypto Analyst Predicts Bitcoin Could Rally Up To 1,400%
Crypto analyst Michaël van de Poppe is expressing bullish sentiment on Bitcoin (BTC) as institutional investors begin to show more interest in the asset. The crypto trader predicts that BTC could rally by up to 15x before and after the halvening event which would result in a price increase of up to 1,400%.
Possibility of a Crypto Market Cap Between $10 Trillion and $20 Trillion
Van de Poppe believes that the current crypto market cap of approximately $1.2 trillion will increase significantly as adoption grows. He compares this cycle to the dot-com bubble of the late 1990s where stock prices rose rapidly until they eventually crashed back down again. This time however he believes that the peak value of crypto assets could reach between $10 trillion and $20 trillion before settling at a lower level over an extended period of time.
Potential for Correction Around $42,000
In terms of short-term movements, Van de Poppe suggests that if BTC were to undergo a correction it would likely occur around the 42k mark before continuing its ascendancy towards 50k prior to halving day.
Growing Interest from Institutional Investors
The increasing amount of attention being drawn to Bitcoin from institutional investors is one factor driving the potential for such massive gains according to Van de Poppe. With governments now beginning to invest in cryptocurrencies along with retail traders there is enormous potential for growth within this sector over coming months and years.
Bitcoin’s prospects are looking increasingly bright following predictions from renowned analysts like Michaël van de Poppe who suggest it could rise by up to 1,400%. With institutional investors showing increased interest there is every possibility that these figures may be achieved or even surpassed in what looks set to be an incredibly exciting 2021 for cryptocurrency markets!