Famous cryptocurrency analyst Michaël van de Poppe claimed in his assessments on social media that a major rise is on the horizon in the Bitcoin and altcoin markets.
According to Van de Poppe, the market is preparing for a bigger rally by the end of 2023. Van de Poppe said, “The Altcoin Season Index shows that a massive altcoin season is about to begin. Over the last 5 years, this index has bottomed every summer, especially in June.
“Then we saw a strong rally in altcoins in the second half of the year,” he said. According to the analyst, we are currently in the middle of a bull market and global quantitative easing (QE) policies are expected to ease.
According to the analyst, this could be a sign of a much bigger movement in the last quarter of 2023.
Van de Poppe also made the following striking predictions for the Bitcoin price:
Bitcoin in Q3: $150,000
Bitcoin in the fourth quarter: $250,000
The analyst also argued that the volatility in Bitcoin has decreased significantly, which is a sign of a major price movement. He noted that the M2 money supply is already increasing rapidly, and the possibility of an interest rate cut is quite close.
Drawing attention to the valuations of altcoins compared to Bitcoin, Van de Poppe said, “Due to macroeconomic conditions, the values of altcoins against BTC are at rock bottom. This shows that we are in the depression phase of the cycle. After this phase, the bull phase will begin.”
*This is not investment advice.