Entrepreneur and cryptocurrency analyst Michael van de Popp
Poppe) Bitcoin price undergoes final correction before starting a full-scale bull run
He predicted that the bull market would continue for at least two years after the 8th (local time), Van de Pop announced through X (formerly Twitter) that "Liquidity has been secured and Bitcoin will once again reach 50,0 ...
"The latest rise could reach a maximum of $55,500, after which it could drop to $53,000," he said.
"We could see a retest of the 2020 rally," he said. "After the last correction, we'll see a 2-year bull market."
In a separate post a day ago, Van de Pop shared a chart with the projected path:
"Barring any unforeseen events, we will see a recovery," he said. The stock market is vulnerable in terms of liquidity, and he knows people are putting their money into these assets out of fear of inflation.
However, he predicts this will reverse soon. Also, Bitcoin/USD is repeating its 2019 movement relative to the S&P 500, which could be a long-term bull market.
"The market has been through a significant correction and it appears to be ending, just like the correction that ended at $6,000 in 2019.
"Bitcoin is likely to close at $45,000-$50,000 again this time," he said. Finally, "Fed rate cuts, a weakening economy, and increased global liquidity in China are driving the price rise."
"Given all that's going on, we're at the departure point of the biggest bull cycle we've ever seen," he added.
2024/09/09 17:20 KST
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