The post Crypto Market Today : Is a Major Bitcoin Price Crash on the Horizon for 2024? appeared first on Coinpedia Fintech News
Crypto markets are uncertain right now, and Michaël van de Poppe, a noted crypto analyst, is diving deep into whether we’re heading for a Bitcoin crash or gearing up for a new ATH. His analysis looks at current trends and Bitcoin’s price to gauge what might come next.
Normal Market Correction, Not a Crash
Big #Bitcoin Crash Coming?That’s the sentiment and the primary question.The crypto markets have been terrible in return for 2024, through which the general consensus is whether a big crash is occurring.I discuss this in my latest video:https://t.co/T8lKgu9OFmMy short… pic.twitter.com/iVl7TkBkHE
— Michaël van de Poppe (@CryptoMichNL) September 8, 2024
In his latest X post, Van de Poppe tackled the buzz about a possible Bitcoin crash head-on. He reassured followers that Bitcoin’s current price of $54,000 and its 26% dip from the recent peak are just typical market moves. Despite the crypto fear & greed index dropping to 22—levels reminiscent of the FTX collapse—Van de Poppe isn’t hitting the panic button. He highlighted that today’s market is in a much better spot, with Bitcoin only 25% shy of a new all-time high, making a crash seem unlikely.
Focus on Equity Markets, Not Bitcoin
Instead of a Bitcoin crash, van de Poppe sees the equity markets as the more vulnerable sector. He explained that while Bitcoin might face short-term pressure if equities crash, it won’t be as severe as many fear. He believes the most important variable right now is the liquidity cycle, which could drive a major Bitcoin bull run shortly.
Van de Poppe also predicts that we are on the verge of rapid crypto adoption, particularly in developing countries. He compared the current phase to the “Dot-com” bubble, suggesting that crypto could experience a similar rapid growth phase, followed by a larger economic downturn similar to the Great Depression 2.0.
Role of Liquidity in the Market
Looking at historical data, van de Poppe highlighted the importance of liquidity in shaping market cycles. He believes Bitcoin could enter its biggest bull cycle ever with potential rate cuts from the FED and increased global liquidity, particularly from China. He compared the current situation to the 2019-2020 period, where external factors like COVID-19 liquidity injections accelerated the bull market.
Bitcoin Price Predictions
Van de Poppe anticipates Bitcoin to land between $45,000 and $50,000 in the short term before another major rally. He believes the market is copying previous cycles, and once global liquidity increases, Bitcoin will likely hit a new all-time high, surpassing expectations. Despite the pessimism around potential crashes, van de Poppe remains confident that Bitcoin is poised for substantial growth in the coming years.
Conclusion: Prepare for a Bull Cycle
Despite the current bearish sentiment, van de Poppe concludes on a positive note. He believes that October will mark a turning point for crypto, with macroeconomic shifts leading to a broader market rally. As long as Bitcoin can hold critical levels and macro conditions support liquidity expansion, van de Poppe sees a strong chance for a sustained bull run.
The market may seem bleak now, but van de Poppe argues that the worst is behind us—and a new crypto cycle is just beginning.
