It became known when the bitcoin cryptocurrency will grow to $ 400,000

Crypto trader Michael van de Poppe has predicted that bitcoin will see significant growth during the current bull market cycle.

In a new strategy session, Van de Poppe told his 161,000 YouTube subscribers that bitcoin could explode by 961% of its current value to $ 400,000. The analyst drew such conclusions based on previous bull market cycles and the laws of declining returns.

«I still believe that this bull cycle will be bigger than the previous one, in the sense that we had a downward yield. It’s very reasonable to say that bitcoin could go up to $ 300,000 to $ 400,000 during this bull cycle. I think there will be a lot of new entrants in the markets that will push prices up, and it is very likely that we will have a 2016−2017 type of cycle, and during this period, altcoins will still do well,» Poppe explained.

As for the current successes of the market flagship, on November 24, the bitcoin rate broke through $ 38,000, setting a new record for the value in 2023. At that moment, the price of the asset was higher than $ 38,400.

According to CoinMarketCap, at the time of writing, the asset is trading at $ 37,814. The market capitalization of BTC is $ 739.3 billion. Traders made daily trading deals worth $ 6.6 billion. BTC’s market share is 49.3%.