Analyst Predicts Bitcoin Could Surge Up to 890% in This Cycle: Check Out His Targets

A prominent analyst in the crypto space is optimistic about the potential for Bitcoin (BTC) to experience significant growth before the current market cycle concludes. Michaël van de Poppe, a well-known crypto trader, shared his insights with his substantial following on the social media platform X, suggesting that Bitcoin could surge by as much as 890% from its present value if investors turn to the primary digital asset as a safeguard against geopolitical uncertainties, banking vulnerabilities, and currency devaluation.

Van de Poppe expressed his belief that Bitcoin is still undervalued, hinting at the possibility of the cryptocurrency reaching anywhere between $300,000 and $600,000 within the current cycle. As of the time of writing, Bitcoin is priced at $60,588, marking an increase of over 4% in the past 24 hours.

The analyst also pointed out a potentially bullish development involving the TOTAL3 chart in comparison to Bitcoin’s market capitalization (TOTAL3/BTC). The TOTAL3 chart monitors the combined market cap of all cryptocurrencies excluding Bitcoin, Ethereum (ETH), and stablecoins. Van de Poppe highlighted a substantial weekly bullish divergence on the TOTAL3/BTC chart, indicating a potential breakout in the near future, which could lead to notable price movements.

Additionally, Van de Poppe emphasized that the TOTAL3/BTC chart is displaying a bullish divergence on the weekly timeframe through the relative strength index (RSI), a momentum indicator. A bullish divergence typically suggests an upcoming reversal when an asset’s price remains stable or decreases while the indicator shows higher lows. This breakout on the TOTAL3/BTC chart signifies that the broader altcoin market might outperform Bitcoin in the foreseeable future.

It is essential for investors to stay informed about market developments and trends to make informed decisions. While the crypto market remains volatile and subject to fluctuations, the insights provided by analysts like Van de Poppe can offer valuable perspectives for those navigating the digital asset landscape.

As the crypto market continues to evolve, keeping track of expert opinions and market indicators can help individuals make informed decisions regarding their investment strategies and potential opportunities within the cryptocurrency space.