Over 1,100% Rally in the Cards for Bitcoin This Bull Market As BTC Enters Institutional Cycle: Crypto Analyst – The Daily Hodl

A widely followed analyst believes that a 12x rally is now on the table for Bitcoin (BTC) as the crypto king enters an era never seen before in its history.

Crypto strategist Michaël van de Poppe tells his 693,000 followers on the social media platform X that Bitcoin exchange-traded funds (ETFs) signaled the dawn of BTC’s institutional cycle.

Van de Poppe says Bitcoin is now in “easy bubble” mode with the entry of trillion-dollar asset managers like BlackRock and Franklin Templeton via BTC ETFs.

“The spot Bitcoin ETF, which has recently been approved, has a magnitude of an impact on the markets, which is not priced in. By a mile.

Much interest was shown in the first few weeks as a few billions of dollars flowed into the ETFs.

More importantly, the combination of a potential hedge against the US dollar (for multiple reasons) is an argument that many institutions will use to adopt an investment-based approach to having Bitcoin. In that aspect, the ETF has enabled a bull cycle we won’t see for a long time.” 

The trader also says macroeconomic factors appear to be conspiring to push Bitcoin to even greater heights.

“There is a current existential risk of inflation across third world countries leading towards a large influx toward Bitcoin and crypto as a whole, but there’s also a slow, gradual increase of fear surrounding the debt levels of the US government and the potential failure of the financial system there.” 

Against the backdrop of rising US national debt and soaring inflation levels across the world, Van de Poppe believes that Bitcoin and the entire digital asset market are about to head into a “crypto dot-com bubble.” He describes the bubble as a cycle where the whole world understands that Bitcoin and crypto are the asset class of the future.

According to the analyst, the global adoption of Bitcoin could ignite a meteoric rally for BTC and send the crypto king well above half a million dollars.

“It could be that we’re going to peak at $250,000 or $600,000…

I think you should erase the theories and expect the markets to go way higher than you think right now, as that’s always how markets move…

In the most likely scenario, in Q3/Q4 2025, we’ll peak, but if the liquidity remains valid, it might be reasonable to suggest that this bull cycle will last longer until 2026 or 2027.” 

At time of writing, Bitcoin is worth $49,823, up over 3% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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• Source: https://dailyhodl.com/2024/02/13/over-1100-rally-in-the-cards-for-bitcoin-this-bull-market-as-btc-enters-institutional-cycle-crypto-analyst/