Bitcoin is gearing up for its "biggest bull cycle" yet, according to crypto entrepreneur Michaël van de Poppe. The cryptocurrency is due for some “final corrections” before embarking on a bull run that could last at least two years.
In his latest analysis, Van de Poppe pointed to $53,000 as the next dip target for BTC before it makes a decisive upward move. “Expect a max of $55.5K on this run and then we could be revisiting $53K before clearly breaking back upwards. Final corrections & then 2 years bull,” he stated.
Despite recent price consolidation and a drop below $50,000, Van de Poppe remains optimistic. He argues that Bitcoin’s current price behavior mirrors that of 2019, suggesting that the market is on the verge of a long-term bullish phase. He sees $45,000 as the new floor, from which Bitcoin could rally as favorable macroeconomic conditions unfold.
Van de Poppe highlighted the upcoming Federal Reserve meeting on September 18, which is expected to result in interest rate cuts. This, along with global liquidity increases, particularly in China, could provide the necessary boost for Bitcoin to enter its next bull cycle.
Bitcoin traded around $54,000 as of September 8, with market participants eagerly awaiting further developments.
