According to Cointelegraph: Bitcoin (BTC) is expected to undergo some final corrections before entering a two-year bull run, according to crypto analyst Michaël van de Poppe. He predicts that the current BTC price consolidation, which has frustrated traders for months, is nearing its end, with $53,000 as the next potential dip target.
BTC Price Forecast: Final Corrections Before Major Bull Run
Van de Poppe, a well-known crypto entrepreneur, suggests that Bitcoin is about to break out of its six-month consolidation period. In his recent analysis on X (formerly Twitter), he identified $53,000 as a critical level where BTC might dip before rallying. He predicts that once Bitcoin finds stability at this level, it will begin a two-year-long bull run, driven by favourable macroeconomic conditions.
He wrote, “Expect a max of $55.5K on this run, and then we could be revisiting $53K before clearly breaking back upwards. Final corrections & then 2 years bull.”
Bitcoin Set for a Bull Cycle Amid Weak Equities Market
Despite ongoing concerns about Bitcoin reaching new lows, Van de Poppe believes that Bitcoin’s market correction is likely over, and the digital asset will soon enter a new bullish phase. He points to the weakness in equity markets as a sign that liquidity is shifting toward risk assets like Bitcoin.
He also noted that while equities are facing liquidity challenges, the overall macroeconomic landscape, including the Federal Reserve’s potential rate cuts and global liquidity increases from China, suggests Bitcoin is on the verge of one of the largest bull cycles in history.
Comparisons to 2019 Market Patterns
Van de Poppe also drew comparisons between Bitcoin’s current behavior and the market in 2019. He suggests that just as Bitcoin hit a bottom at $6,000 in 2019 before rallying, the current correction is likely bottoming out between $45,000 and $50,000.
He concluded, “With the upcoming rate cuts from the FED, the weakening economy, and global liquidity being increased in China, it seems almost inevitable that we’re actually at the edge of the biggest bull cycle ever.”
Impact of Federal Reserve Rate Cuts on Bitcoin
The U.S. Federal Reserve’s decision on interest rate cuts, expected on September 18, is likely to benefit-risk assets like Bitcoin. Lower interest rates would encourage liquidity inflows, potentially fueling a major rally in the crypto markets. With Bitcoin trading around $54,000 as of the week’s close, many traders are eagerly anticipating the outcome of the Fed’s meeting.
Van de Poppe’s analysis suggests that this could be a pivotal moment for Bitcoin, setting the stage for an extended period of growth and gains.
