Michaël van de Poppe, one of the legendary cryptocurrency analysts, suggests in his latest analysis that Bitcoin (BTC) is poised for a “big bull run.” Let’s examine the basis of this prediction.
Trends market provides additional volume
Michaël van de Poppe thinks the market is approaching the final stage of the cycle as it is already seeing tremendous returns and growing adoption:
We’ve seen the rise of NFTs and the ecosystem getting bigger, which means adoption is increasing heavily. So most of the real big gains are made in the last part of the cycle.
Bitcoin is in a phase similar to the dot-com bubble
cryptocoin.com The market is witnessing a fundamental adoption similar to the dot-com bubble, according to Poppe, whose analysis we have shared. Not just through different countries, but also through people looking for a better annual percentage rate (APR) through DeFi or using a transfer or crypto to move their funds from one country to another. The second reason for the analyst’s bull expectation is that institutions develop financial instruments to gain a foothold in the markets. Poppe shares on-chain metrics that show Bitcoin is still in interesting territory, emphasizing that “real money is earned in the last part of the cycle”:
The MVRV ratio shows that we are not near overvaluation at the moment, and indeed the previous run to $69,000 did not even show Bitcoin enthusiasm. It’s the first run where we’ve seen the rumors accelerating quite a bit and the general media attention starting to grow.
Long-term investor supply is an important indicator
Finally, Poppe analyzed why Bitcoin (BTC) valuation is relatively low compared to the actual valuation at this stage. The crypto analyst highlighted that the supply of long-term holders is coupled with the fact that BTC is at a low valuation as long-term holders are slowly accumulating their positions as the market rises again. Poppe said:
With the long-term investor supply, you can see all these indicators fall into the hype territory the moment we go into an exaggerated version or start accelerating pretty quickly. The sentiment is generally bullish and then the long-term holders start to sell.
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