Crypto analyst Michael van de Poppe, Bitcoin $98,538.2He stated that (BTC) remains in an uptrend and despite falling below $100,000 this week, the price could increase by over 400%.
Upside Potential for Bitcoin
In his statement to his followers on the social media platform X, Van de Poppe stated that Bitcoin could reach $ 500,000 in the current cycle. This forecast is based on Rainbow Logarithmic Growth Channel (LGC) chart analysis.
LGC attempts to predict Bitcoin’s bottoms and tops in the long-term cycle by filtering out short-term volatility. Van de Poppe stated that the rainbow color bands he added on LGC show market sensitivity in different price ranges.
“Bitcoin rainbow chart shows good things. The previous peak must have been much higher because it did not enter extreme territory. The longer the chart runs, the higher the highs become. “If there is a bull market by 2026, the $500,000 target is not bad.” – Michael van de Poppe
The Rise of Altcoins
The analyst thinks that Bitcoin has reached its short-term peak due to the deterrent stance taken by the Fed this week. However, he added that altcoins may continue to rise.
“As for Bitcoin price action, I think we have sealed the top for now. The upside is this: Altcoins are poised to fire up when labor market data deteriorates, which will provide a significant correction to yields. Finally, the possibilities of a longer cycle for crypto have increased significantly.” – Michael van de Poppe
Van de Poppe predicts that the crypto bull market is not over yet and noted that it could offer higher returns for patient participants. Bitcoin is currently trading at $98,604.
The analyst emphasized that this cycle will be full of surprises and that widespread views that altcoins are dead are wrong. He stated that the crypto market still offers opportunities for a longer cycle and higher returns.
Investors should carefully consider crypto market fluctuations and long-term potential. Mobility in Bitcoin and altcoins requires close monitoring of market dynamics and global economic factors.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
