Popular crypto analyst Michaël van de Poppe is laying out his predictions on how Bitcoin (BTC) could perform this year.
Van de Poppe tells his 643,700 Twitter followers that Bitcoin could be gearing up for a massive surge in the coming months.
“Q1: Sideways markets. Potential temporary bottom.
Q2: Relief rally on Bitcoin to $30,000-$35,000 amongst pause of hikes/inflation coming down.
Q3/Q4: Recession and crisis kicks in, one final drop on indices.
2024-2025 massive bull cycle, Bitcoin to $250,000-$300,000.”
At time of writing, Bitcoin is changing hands for $16,665, suggesting that BTC could gain over 110% should the king crypto reach Van de Poppe’s Q2 prediction.
In the short term, Van de Poppe thinks Bitcoin looks poised for a quick rally.
“Bitcoin looks ready for continuation, but always difficult to call when US opens up tomorrow.
I’d be chasing the $16,600 area if you’re not in a position.
Targets; $17,000-$17,100.”
Looking at the altcoin market, Van de Poppe says that it may be time to accumulate crypto assets other than Bitcoin as they have been languishing in a prolonged bear market
“All I hear is the fact that people are saying that altcoins will crash another 50-90% from here.
They could. Definitely. It’s a bear market, but it’s the longest till date for most of the altcoins -> 19 months.
I wouldn’t recommend to start selling here. Accumulate.”
One altcoin on Van de Poppe’s radar is smart contract platform Fantom (FTM), which he says could slightly pull back before launching a rally.
“I’m watching some perspectives here, in which it sounds reasonable that we’ll be continuing the rally on altcoins.
Especially FTM looks great:
– Liquidity taken and higher high.
– Retest at $0.2060 is an aggro entry. Conservative: $0.2030.
Resistance at $0.216 cleared -> $0.25.”
At time of writing, FTM is switching hands for $0.208, up over 5% on the day.
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Source: https://dailyhodl.com/2023/01/03/analyst-michael-van-de-poppe-predicts-over-110-rally-for-bitcoin-this-year-heres-his-outlook/