Michael van de poppe is a crypto trader who has over 161,000 YouTube subscribers and focuses on technical analysis and fundamentals. He’s also well-known for his ability to predict upcoming price movements. In an article for Insider, van de poppe said he expects bitcoin to reach $300,000 this year and that it could be a long-lasting bull cycle. He also explained which metrics he looks at to make his price predictions.
He has a background as an economist and uses that knowledge in his market analysis. He explains that he watches a combination of factors, including price action and sentiment, in order to determine whether bitcoin will rise or fall. He has developed a system to analyze the market by looking at four specific indicators.
According to him, this system can predict the future direction of the market based on a number of historical trends. For example, he claims that the price of a commodity usually falls after its peak. This has happened with commodities such as coffee and oil, so it’s likely that it will happen with bitcoin in the future.
Another factor that can influence the price of a cryptocurrency is the amount of money that is entering and leaving the market. Van de poppe cites an example where the amount of money entering the market increased, which caused prices to drop. He says that this could be the case with bitcoin as investors are looking to invest in other projects.
Lastly, van de poppe cites that some crypto experts have predicted mind-boggling price levels for bitcoin. He believes that a lot of these price predictions are due to the fact that they are not Bitcoin investors themselves and do not understand the current monetarial system. He is sceptical about a halving and the launch of a bitcoin ETF.
He does not seem to think that it is a good idea for these institutions to enter the market at this time. He claims that a significant percentage of the global economy is centralized and that cryptocurrencies are an alternative to this centralized system. He believes that a large portion of the world’s population will adopt cryptocurrencies in the future.