Dutch crypto analyst Michael van de Poppe has shared his vision for the coming years for Bitcoin (BTC) and the crypto market via X. According to van de Poppe, we are on the eve of a true institutional Bitcoin cycle and Bitcoin will rise much more than we can currently imagine. He even speculates that BTC could rise to $600,000 in the upcoming bull market.
This Bitcoin cycle will be different
This wild claim from the analyst is somewhat controversial. A bull market top of $600,000 would contradict a well-known principle: declining returns. Loosely translated, this means “reduced returns”. This refers to the declining returns that each Bitcoin cycle has seen so far compared to the previous cycle.
In 2017, BTC rose 12,000 percent from the bottom of the cycle. In 2021, this proportion was 2,000 percent. According to this principle, the Bitcoin price would be as follows Bull run Therefore, it can never increase by more than 2,000 percent.
Such a rise would already take BTC to an astronomical high of $300,000. But Van de Poppe believes we can ditch the theory of diminishing returns. For example, he believes that the previous high of $69,000 was heavily manipulated by the now bankrupt crypto exchange FTX. He also compares Bitcoin as a technological advancement to the currently booming tech stocks.
He also mentions the importance of Bitcoin spot ETFs. In the first few weeks since the ETFs were introduced, several billion dollars have already flowed into Bitcoin funds. And it won’t stay that way, says Van de Poppe. More and more institutions will choose Bitcoin as a hedge against the US dollar. He believes ETFs will create a huge bull market.
Bitcoin price to $600,000?
It is also not certain how long this bull market will last. According to van de Poppe, this mainly has to do with the liquidity cycle. The US Federal Reserve will play an important role in this. As long as interest rates fall, there is an optimistic investment climate. Van de Poppe expects Bitcoin to peak at the end of 2025. However, if liquidity remains high, the cycle could last until 2026 or even 2027.
But how high will Bitcoin rise in this bull market? Of course, Van de Poppe doesn’t have a crystal ball and can’t predict this with any certainty. He believes the upcoming bull market will be similar to the famous “Dot.com” bubble of the late 1990s. He believes that a value of $250,000 is quite achievable. But if the circumstances are right, he even estimates a possible amount of $600,000.