Seasoned cryptocurrencies trader and analyst Michael van de Poppe posted his long-term prediction for the price of an orange coin.
Price Cycles are Getting Longer
Mr. van de Poppe noticed that the flagship cryptocurrency, Bitcoin (BTC), is going through its third price cycle. According to him, every cycle is taking much longer than previous one.
For instance, the first cycle in 2012-2014 lasted for 910 days, while the next cycle was 55% longer that previous cycle. That being said, the ongoing cycle may end in 2025-2026.
Mr. van de Poppe also noticed that weekly moving average lines acted as a strong support for the bottoms of price levels within every cycle. The first bearish rally failed to break below the 100-Week Moving Average (MA), while the second had nothing to do with 200-Week MA. Thus, for this cycle, the line for the 300-week MA would be a tough nut to crack for bears.
Patience is a Virtue
Mr. van de Poppe has already wisely counselled to lower our expectations for the price of Bitcoin (BTC) since we may be very far from the new 'parabolas'. Even before Black Thursday of Crypto occurred, he had warned that the 2023-2024 period looked 'more natural' for a peak in the new orange coin market cycle than 2021.
It appears that his prediction is in line with another detailed prediction by crypto analyst Charles Edwards of Capriole Investments. Mr. Edwards studied the energy consumption of the Bitcoin (BTC) network and derived his 'energy value theory', predicting that Bitcoin (BTC) will reach the $100,000 mark in 5 years. This will occur if the crypto manages avoid the risks of governmental restrictions and quantum computers attack.
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