Bitcoin BTC/USD Bull Market Is Far From Over, According to Crypto Analyst Michaël van de Poppe

The bull market for Bitcoin BTC/USD is far from over, according to crypto analyst Michaël van de Poppe.

Crypto analyst Michaël van de Poppe anticipates that the bull market for Bitcoin (BTC) is far from over, despite the cryptocurrency's recent correction to the $80,000 range.

What Happened: Van de Poppe predicts a significant rally for Bitcoin, foreseeing it could reach up to $250,000 in this cycle.

This prediction indicates a 195% increase from its current value.

“I don't think that the cycle is over. I think it barely started, even the hype on Bitcoin wasn't anywhere near euphoria. I do believe that we'll see Bitcoin above $200,000-$250,000 this cycle,” the trader said on X.

I don't think that the cycle is over.I think it barely started, even the hype on #Bitcoin wasn't anywhere near euphoria. I do believe that we'll see Bitcoin above $200-250K this cycle. I also believe we'll have one year of outperformance of the ecosystem vs Bitcoin.

The crypto analyst noted that Bitcoin went through several severe corrections during the 2017 bull cycle before rallying to new all-time highs. “Bitcoin is currently down 25% since the all-time high. That's a normal correction, nothing strange, nothing to worry,” he mentioned.

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During 2017, the markets have seen multiple 30%+ corrections.

#Bitcoin is currently down 25% since the all-time high. That's a normal correction, nothing strange, nothing to worry.

Van de Poppe also hinted that the crypto markets could perform strongly in the upcoming month if Bitcoin manages to regain $89,000 on the weekly chart as support.

At the time of writing, Bitcoin was trading at $84,710, showing no significant change on the day.

Why It Matters: Van de Poppe's prediction comes as the crypto market experiences significant volatility. His forecast of a 195% surge for Bitcoin could signal a bullish trend for the cryptocurrency, despite the recent correction.

The analyst's reference to the 2017 bull cycle suggests that such corrections are not unusual and do not necessarily indicate an end to the bull market.

If Bitcoin can regain its position on the weekly chart, as van de Poppe suggests, it could set the stage for a strong performance in the crypto markets in the coming month.

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