There’s been a lot of speculation about the price of the king coin these days. As expected, most predictions have been pretty bullish, especially since BTC was able to hit one ATH after the other.
Following a significant fall in price that took place the other day, Bitcoin is now recovering its losses, and the king coin is now trading in the green and above $36k.
Bitcoin to reach $300k
The popular trader and crypto analyst Michaël van de Poppe has just explained the reasons for which he believes Bitcoin’s current bull cycle will catapult BTC to as high as $300,000.
In a new video, he addressed why he thinks BTC could blow past expectations.
“What the majority of the people are expecting at this point, which is something about $100,000 to $200,000, is probably going to be broken to the upside given [that] of human psychology or market psychology and market cycles,” he said.
He continued and said: “If you go back in history, then you know that the people [who] were expecting a bull run to occur in 2015, 2016, would have never bet a price level of $20,000 per Bitcoin.”
He also said that markets tend to be irrational as they’re going through a boom cycle. He used Apple’s stock (AAPL) as an example.
According to the trader, AAPL accelerated fast after recovering from the dot-com bubble without any real correction.
“Once something starts to run, you most likely will not get a great re-entry again as FOMO gets to the asset and the price is getting pushed up, which in effect we also saw on the recent Bitcoin run,” he said as cited by the Daily Hodl.
He continued and said: “Bitcoin ran from $10,000 to $40,000 without any significant corrections. Of course, there is that 30% correction that is going to occur at some point, which might mean that we’re going to drop towards $26,000-$28,000. Who knows? But still significantly higher than the areas of $20,000 or $14,000.”
We suggest that you check out the video above in order to learn more details.