Bitcoin (BTC) is set to embark on a multi-year bull run after experiencing its final corrective phase, according to a bold new analysis by renowned crypto entrepreneur Michaël van de Poppe.
In his latest X content, Van de Poppe, a prominent trader and analyst, forecasts that Bitcoin will dip to around $53,000 before “clearly breaking back upwards” and kicking off an extended period of growth.
The analyst’s prediction comes despite Bitcoin’s failure to convince traders that lower lows are off the table, even a month after it hit a six-month bottom below $50,000. However, Van de Poppe remains optimistic, arguing that the current market conditions are reminiscent of 2019, suggesting that Bitcoin is at the beginning, not the end, of a long-term bull cycle.
“We can also see that there’s been a significant correction taking place on the markets, which is likely coming to an end, just like the correction in 2019 landed at $6K, we’re likely landing at $45-50K on Bitcoin,” Van de Poppe stated.
The analyst’s bullish outlook is further supported by the upcoming Federal Reserve meeting on September 18, where a rate cut is widely expected. Van de Poppe believes that lower interest rates will encourage liquidity to flow into crypto and risk assets, ultimately benefiting Bitcoin.
“From that perspective, with the upcoming rate cuts from the FED the weakening economy, and the global liquidity being increased in China, it seems almost inevitable that we’re actually at the edge of the biggest bull cycle ever,” Van de Poppe concluded.
As Bitcoin trades around $54,000 into the September 8 weekly close, investors eagerly await the potential start of the predicted bull run following the final corrective phase.
