Crypto analyst Michael van de Poppe predicts that the price of Bitcoin could rise to $500,000 and notes that there is also a strong upside potential for altcoins. The analyst emphasizes that opportunities in the crypto market can increase, especially during times of crisis.$BTC
Van de Poppe stated that Bitcoin continues its current uptrend and that despite falling below the $100,000 level in the short term, the price could increase by over 400%. In a statement he made on the social media platform X, he predicted that Bitcoin could reach $500,000 by 2026. This prediction is based on the Rainbow Logarithmic Growth Channel (LGC) analysis model. LGC helps filter short-term price fluctuations to predict bottoms and tops in Bitcoin’s long-term cycles. Van de Poppe stated that the rainbow color bands on the LGC chart show market sentiment at different price ranges.
“Bitcoin’s rainbow chart is showing very positive signals. The previous peak should have been higher because it did not enter the extreme territory. The longer the chart lasts, the higher the peaks can go. If there is a bull market by 2026, the $500,000 target is definitely possible.” – Michael van de Poppe
Van de Poppe stated that Bitcoin may have peaked in the short term, but altcoins still have the potential to rise. The crypto analyst stated that the weakening in labor market data in particular could bring an increase in altcoins.
“Bitcoin’s price action currently appears to be nearing its peak. However, altcoins could accelerate, especially with worsening labor market data. This could provide significant momentum to altcoins. As a result, the possibility of a longer-term cycle in the crypto market has increased significantly.” – Michael van de Poppe
Van de Poppe noted that the crypto bull market is not over yet and patient investors can reap higher gains. Bitcoin is currently trading at $98,604.
The analyst emphasized that surprises could occur in this cycle and that the views that altcoins are "dead" are wrong. He stated that the crypto market still offers investment opportunities and offers the chance to achieve high returns in the long term.
It is emphasized that investors should act strategically by carefully focusing on the fluctuations and long-term potential in the crypto market. The movement in both Bitcoin and altcoins requires close monitoring with global economic conditions and market dynamics.