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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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Bitcoin Still on the Rise Trend: Analyst Said "There is Hope" Pointed to 500 Thousand Dollars - Coin Bulletin
Famous analyst Michaël van de Poppe, while predicting that Bitcoin could reach $500,000 in this cycle, also mentioned that altcoins are ready to start rising.
Michaël van de Poppe, one of the closely followed analysts in the cryptocurrency market, stated that Bitcoin (BTC) is still in an uptrend and could reach $500,000 by gaining more than 400% in this cycle.
Poppe, in a statement to his 754 thousand followers on social media platform X, stated that he used a rainbow logarithmic growth channel (LGC) graph to determine the potential peak of Bitcoin in the current cycle. This graph aims to predict the long-term cyclical lows and highs of Bitcoin while filtering out short-term volatilities.
"The rainbow chart provides important signals for Bitcoin," said Poppe, stating that this chart shows that the peaks in previous cycles should be at higher levels. Poppe emphasized that as the current chart lasts longer, the peak levels will also increase, highlighting that the target of $500,000 in a bull cycle that could last until 2026 is a realistic prediction."
Poppe noted that Bitcoin may have set its peak in the near term, despite falling below $100,000 this week. However, he highlighted the possibility of altcoins rallying.
It seems like the peak is seen in Bitcoin, but this is a positive situation. Deterioration in labor market data could create strong movement in altcoins.