Following the recent rise in cryptocurrency markets, Bitcoin’s dominance has begun to be questioned. The opinions of well-known analysts, especially Michaël van de Poppe, have a great impact on the markets. Van de Poppe’s assessment indicates that Bitcoin may have reached its peak, but Ethereum and other altcoins may rise in the coming period.
It is a fact that Bitcoin has been the determinant of cryptocurrency markets for a long time. However, recently decentralized finance and technology projects such as DeFi and DePIN have also attracted attention. Van de Poppe thinks projects in these areas could outperform Bitcoin. Specifically, DePIN projects promote the use of crypto assets and blockchain technology for the construction of real-world infrastructure.
To the analyst according to The strong weekly candle observed in the Ethereum/BTC pair indicates that the asset rotation has begun. This may indicate that Ethereum and other altcoins are starting to gain strength against Bitcoin. Areas such as DeFi and DePIN may play a more important role in cryptocurrency markets in the future.
“DeFi/DePin will perform significantly better. Bitcoin is close to reaching its peak. “Other ecosystems are starting to do well.”
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In addition, the analyst predicts that the Bitcoin price may rise up to $58,000 before a correction occurs in the market.
“Bitcoin is consolidating at $52,000 and the total market cap is at $1.9 trillion. The increase appears relatively limited for Bitcoin. “My general thesis is for continuation to $54,000-$58,000 followed by consolidation and a broader correction.”
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Additionally, the analyst thinks that Bitcoin will follow a historical price pattern and significantly exceed its current value within two years.
“This is equivalent to the April 2016 cycle where Bitcoin reached its peak in December 2017. It also corresponds to the March 2020 period of Bitcoin’s cycle when it peaked in November 2021. Bitcoin’s value is $51,000, but it will be significantly higher in two years. “Save as much as you can.”
Bitcoin is trading at $51,903, up nearly 4% in the last seven days.
You can follow the current price movement here.
