Crypto trader Michaël van de Poppe has made a big profit in the current bull market cycle. Bitcoin predicts fluctuation.
Van de Poppe makes his prediction based on previous bull market cycles and the laws of diminishing returns. In this context, he says that Bitcoin could rise up to $400,000 with a 961% explosion from its current value.
“I still believe this bull cycle will be greater than the previous bull cycle in terms of diminishing returns.
And I think diminishing returns doesn’t mean that if we did 80x in this cycle from 2015 to 2017 and we did 20x in the second cycle here, we should do 5x from now on. Because this 2019-2021 cycle was pushed down by Sam Bankman-Fried as FTX pushed the Bitcoin price down during this period. There were articles proving this point.
Diminishing returns could also mean you’ll 18x from here at $16,318 in early 2023. You do 20x, so if we go and crunch the numbers, so if we crunch the numbers from 2019 to 2021 and say hey, the bear market is over, we do 21x. And we’ll do 20x from the 2023 market cycle low.
It is very reasonable to say that Bitcoin could rise to $300,000 to $400,000 in this bull cycle. Because I think there are many new participants joining the markets. Additionally, I think it will take it to a point where it is very likely that we will have a 2016-2017 type cycle. “Altcoins will still do well during this period.”
Bitcoin is trading at $37,680 at the time of writing this news.