The optimistic predictions about the price of Bitcoin keep popping up. At the moment of writing this article, the king coin is priced at $26,657.65, and the digital asset is trading in the red.
BTC to hit $40k
Prominent crypto strategist and trader Michaël van de Poppe said that Bitcoin is gearing up for a run to $40,000 as it continues to register new all-time highs.
Here’s the tweet that he recently dropped.
#Bitcoin breaking upwards even more as it’s approaching my second Fibonacci point of interest around $25,800.
The higher we go, the higher the next impulse move will bring us.
If $25,800 is this temporary top, next impulse could bring $BTC towards $40,000+. pic.twitter.com/CrcrUwVLXN
— Michaël van de Poppe (@CryptoMichNL) December 26, 2020
When someone asked: “Are we gonna see alts moving anytime soon??” Poppe responded with the following message:
“Every 10 minutes, this question. Probably you’re invested with money that you’ve lent your family and went balls deep into altcoins through which you’re checking the charts every 5 minutes on Christmas. I’m expecting altcoins Q1 2021. Bottoming in this period. Nothing changed.”
Someone else posted this: “#Bitcoin Went up 7x in 289 days with no dips over 26%! Perhaps institutional buyers are happier to set limit orders padding the dips in ways that retail’s market buys do not. This run #BTC had only 5 dips, 4 of which were about 20%. Maybe $BTC won’t ever dip 40% again.”
The 2020 bull cycle is different
He also pointed out the fact that this bull cycle is different.
#Bitcoin above $26,000 while the retail hype is not even close to the previous all-time high at $19,700 in 2017.
Bull market.
— Michaël van de Poppe (@CryptoMichNL) December 26, 2020
A commenter said: “I think this bull run will be one of a kind. what’s happening right now with $BTC has never happened before. surpassing the old ATH by far before January.”
Another follower posted this: “The total market cap of crypto is still about $100 billion shy of where it was at its peak the last cycle. We will be hitting $1 trillion this round no problem.”
