Analyst: Bitcoin’s Record Peak Signals Potential Supercycle

• Michaël van de Poppe predicts massive Bitcoin cycle before halving event.
• Bitcoin hits $69,000 peak, then drops 8% to $63,620 shortly after.
• Poppe advises waiting for 25% asset price drop before investing.

Michaël van de Poppe, a well-known figure in the cryptocurrency industry, asserts that the ongoing Bitcoin cycle will be enormous. He suggests that the period leading up to the BTC halving has probably already begun. On the social media platform X, previously recognized as Twitter, Poppe emphasized that Bitcoin has achieved a new all-time high (ATH) before halving for the first time, indicating that this cycle could be massive, potentially even a supercycle.

It should be highlighted that, according to CoinGecko, Bitcoin reached a record peak of $69,000 on Tuesday, three years after its previous high, yet the value of the digital currency experienced a decrease of approximately 8% shortly thereafter. As of 11:28 p.m. Eastern Time, Bitcoin costs $63,620, accompanied by a 41.83% increase in trading volume.

Commenting on the decline in Bitcoin’s value, Poppe remarked that such downturns occur when reality sets in, suggesting that this is one of those times. He further forecasted that in the months ahead, it is highly probable that alternative cryptocurrencies will surpass Bitcoin in performance.

Significantly, meme cryptocurrencies such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe have experienced notable price surges during this week, and other alternative coins have shown strong performance as well.

Prominent figures in the sector, such as Robert Kiyosaki, the renowned businessman and writer of the top-selling book “Rich Dad, Poor Dad,” have made optimistic forecasts for Bitcoin. He is of the opinion that by June 2024, BTC will reach a value of $100,000.

Significantly, last week Poppe advised his audience to steer clear of purchasing assets that are priced too high. He stressed the importance of determining the best moments to enter the market when dealing with digital assets. He recommended that investors should hold off on investing until there is a price decline of approximately 25% in an asset.