Michael van de Poppe: Bitcoin is starting a new cycle

Cryptocurrency analyst Michael van de Poppe said that bitcoin BTC $95,907.28 Bitcoin -0.21% Market capitalization $1.9 trillion VOL. 24 hours $2.26 billion is starting a new cycle in the cryptocurrency market. According to the crypto analyst, the main digital asset has managed to hold its position despite the influence of negative factors.

De Poppe emphasized that it is necessary to be careful and make sure that bitcoin can strengthen above $ 60,000. The expert noted that the flagship has demonstrated resilience and compared it to gold in the 1930s as a hedge against global uncertainty. In particular, he mentioned the attempted assassination of Donald Trump as evidence of changes in the world order, where bitcoin is a solution.

The analyst also believes that some growth in distrust, which has led to a drop in the value of bitcoin, is natural and should not surprise market participants. However, he did not specify how much the bitcoin rate could rise at the beginning of the new cycle.

On July 13, former US President Donald Trump was assassinated during a campaign speech. Following this incident, meme tokens associated with the politician rose sharply in value.