Famous analyst Michaël van de Poppe has explained his price outlook for Bitcoin and altcoins in his latest statements.
Cryptocurrency analyst Michaël van de Poppe has made comments about Bitcoin and the cryptocurrency world in general in his statement.
Referring to a recent article published by the European Central Bank stating that Bitcoin has failed as a globally decentralized digital currency, van de Poppe said that these statements stem from the fear of the ECB regarding BTC.
Additionally, he also reminded that the Euro has lost 30% of its purchasing power throughout its 24-year history, stating that people have fled Euro and sought refuge in Bitcoin.
The analyst also mentioned the world of altcoins. Pointing out that the total market value of cryptocurrencies other than Bitcoin and Ethereum is still less than 50% of its all-time high, the analyst noted that these assets still have growth potential.
Furthermore, he also pointed out that this potential is in Q2 2024.
The analyst argued that the price of BTC before the halving event will reach its highest level ranging from $54,000 to $58,000.
However, he suggested that the cycle we are currently in will push Bitcoin into a major adaptive wave and we could potentially see prices ranging from $300,000 to $600,000 per BTC.
