Bitcoin (BTC) Advice From Top Trader: Lower Your Expectations, No Peak in 2021

News
Sun, 03/08/2020 - 14:06
Vladislav Sopov
The Bitcoin (BTC) price dropped 4.3% last night, injecting new life into the bearish narrative. Crypto trader Michael van de Poppe recommends HODLers take the edge off
Cover image via www.shutterstock.com
Contents

Seasoned crypto trader, researcher and educator from the Netherlands, Michael van de Poppe, published a long-term prediction about the Bitcoin (BTC) price. It looks like every holder of the crypto king should read it at least twice.

Forget your 2017

After Crypto Twitter turned sad this morning, Mr. van de Poppe decided to explain what is what in 2020 for Bitcoin (BTC). According to him, those who are waiting for a parabolic run to come soon should put some water in their wine.

The trader also predicted that this market cycle would take longer than the previous one due to the eventual maturation of the cryptocurrency market.

Related
Bitcoin's (BTC) Difficulty Adjustments Mirror Previous Halving Cycle

This calculation is in line with one of the latest State of the Network reports from the Coinmetrics team. The analysts suppose that

Bitcoin’s price correction following the summer of last year has put the current cycle in line with the previous cycle that started in early 2015. If historical price cycles are reliable guide, we should expect further periods of only moderate price growth interspersed with brief periods of rapid growth and corrections

Three or four years to new ATH

Additionally, Mr. van de Poppe's estimations are not ultra-bearish for the long-term as well. The 'parabolic' - the rapid growth of the Bitcoin (BTC) price - will occur, but later. Now, such movements occur only because of human greed and the behavior caused by it.

That said, the 2023-2024 period looks 'more natural' for a peak in the new orange coin market cycle than 2021, according to the analyst. 

Related
Bitcoin (BTC) Price to Spike to $85,000 After Next Bullish Cycle, Prominent Crypto Trader Predicts

As previously reported by U.Today, many seasoned traders and analysts predicted the Bitcoin (BTC) price to reach an enormous $85,000 or even $120,000 at the peak of this market cycle.

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy