Popular crypto strategist and trader Michaël van de Poppe has given his predictions for bitcoin’s price outlook, saying the top is still years away.
In a recent trading video, van de Poppe revealed that he expected bitcoin’s current price rally to top in 2022, rather than in the coming year.
He explained,
Given that the previous cycle took from November 2013 to December 2017, I am still standing by my view that our next top cycle point for this crypto cycle will be 2022/2023. I’m still not one of the guys that is currently expecting Bitcoin to top out in 2021.
Van de Poppe continued, saying he expected the market to be a grind during the first months of 2021 before reaching a new peak high.
The popular trader said,
We can derive those Fibonacci levels based from this previous impulse wave, lowest at $9,800, high around $29,000, first target is $41,000, second one $60,000. If we do it from the entire low until now, you can actually start targeting $70,000, which is not unhealthy in the case that we get that correction, start to grind, have the altseason, and then start to break out again.
Van de Poppe predicted bitcoin’s price would accelerate in 2022 with a run towards $200,000 or $300,000, forming the top for the current price cycle.
He also took the time to address the sudden fall in valuation for XRP, saying it would continue to underperform throughout the coming year.
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