Analyst Michaël van de Poppe Predicts Bitcoin May Surge Up to 890% in Current Cycle – Unveils Potential Price Targets

A prominent cryptocurrency analyst has suggested that Bitcoin (BTC) could potentially see an increase in value by hundreds of percent before this cycle concludes.

Noted cryptocurrency expert Michaël van de Poppe informed his substantial following of 724,700 users on the social network X that Bitcoin has the potential to surge as much as 890% from its current price, especially if the foremost cryptocurrency is adopted as a safeguard against global political uncertainties, financial sector upheavals, and the dilution of fiat currencies.

“Bitcoin’s present market valuation is exceedingly undervalued. It wouldn’t surprise me to see it reach $300,000-$600,000 within this cycle.”

At the moment of publication, Bitcoin is valued at $60,588, demonstrating an increase exceeding 4% over the previous day.

Van de Poppe also mentions that the TOTAL3 chart is setting up for a significant surge compared to Bitcoin (TOTAL3/BTC). The TOTAL3 metric represents the aggregate market capitalization of all cryptocurrencies, with the exception of Bitcoin, Ethereum (ETH), and stablecoins.

The analyst remarks,

“There’s a pronounced weekly bullish divergence in the TOTAL3/BTC chart (the altcoin market cap measured against Bitcoin’s value). I anticipate this could drive even stronger price action in the approaching period.”

The analyst explains that there’s a bullish divergence on the TOTAL3/BTC chart’s weekly time scale, indicated by the relative strength index (RSI), which is utilized to gauge momentum. Bullish divergences often imply a potential trend reversal when an asset’s price decreases or moves sideways, while the indicator itself shows increasing lows.

An eventual breakout in TOTAL3/BTC could signal that the wider altcoin sector is outshining Bitcoin’s performance.

Stay Updated – Subscribe to receive direct email notifications

Review Market Prices

Follow us on social media platforms like X, Facebook, and Telegram

Explore The Daily Hodl Mix

Disclaimers: The opinions expressed here at The Daily Hodl don’t constitute investment advice. Prior to engaging in any investment involving high risk, such as Bitcoin, cryptocurrencies, or digital assets, investors are urged to perform their own due diligence. Be aware that all your transfers and trades are at your own risk, and any losses incurred will be your own responsibility. The Daily Hodl is neither an investment advisor nor does it endorse the purchase or sale of any cryptocurrencies or digital assets. The Daily Hodl is affiliated with marketing programs that may earn commissions.

Image generated by Midjourney