Popular crypto trader Michaël van de Poppe for the first year of the bull cycle Bitcoin offers price prediction. Poppe says BTC could rise by 50% from its current value.
We witnessed a one-year bear market. We witnessed a year of accumulation. And now we are entering the first year period of the bull cycle (the purple one), which means the high will most likely be around $50,000 to $55,000.
NEWS CONTINUES BELOW
Looking at its chart, the trader believes that Bitcoin repeats a four-year cycle pattern where there is a bear market period, an accumulation period, a first-year bull market period, and finally the second phase of a bull market when a new all-time high is reached.
The trader also predicts that altcoins will rise as Bitcoin’s bear market period is over.
We will have a period where altcoins begin to wake up substantially before breaking the all-time high, which I call bull phase two. So in the meantime we will see altcoins perform really well. We’re starting to see the momentum that we’ve seen in Chainlink and have seen in some other altcoins for a while as well.
NEWS CONTINUES BELOWSo at this point, there is almost 100% confirmation that the bear market is over, especially with the breakout of $28,000 and the 200-week EMA (exponential moving average) holding for Bitcoin.