Yuri Molchan
The popular cryptocurrency analyst expects Bitcoin to rise to $300,000 this market cycle
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Major cryptocurrency trader and analyst Michael van de Poppe has released a new Bitcoin forecast that exceeds the target recently stated by Max Keizer.
“Probable price value of $300,000 to $600,000” for Bitcoin
Poppe's prediction suggests that flagship cryptocurrency Bitcoin is expected to reach eye-watering price levels of $300,000 to $600,000. This is due to the growing interest from numerous financial institutions sparked by the recent launch of spot-based Bitcoin ETFs. Before that, however, he expects several major corrections.
At the time of writing, the leading cryptocurrency is changing hands at $51,086 as Bitcoin staged a slight recovery following a 2.77% decline that ended today. Overall, BTC has lost 3.32% since peaking above $52,000 on Tuesday, February 20.
To date, Bitcoin is primarily acquired by fewer than a dozen Bitcoin ETF providers, including BlackRock, Fidelity, VanEck and Ark Invest. They all bought a huge amount of Bitcoin daily – 12.5 times what miners produce per day (900 BTC in total, earning 6.25 BTC for each new block). As for Grayscale, so far this fund management company continues to sell Bitcoin instead of buying it.
As U.Today reported, Fidelity outperformed eight ETFs in daily inflows on Friday, February 23. This time he even managed to beat BlackRock, which was usually the leader in daily Bitcoin purchases after the launch of the ETFs.
On February 23, the Fidelity Wise Origin Bitcoin Fund raised 3,061 BTC worth $156 million. This time, BlackRock took second place with 2,415 BTC purchased on the day – equivalent to $123.3 million.
Bitcoin heading towards $500,000: Max Keizer
Noted Bitcoin maximalist Max Keizer has predicted a $500,000 target for Bitcoin – more than double his previous long-term target of $220,000. This time, Keizer stated that he expects “the global fiat money apocalypse” to come soon.
Keizer mentioned the same Bitcoin price target in his tweets earlier this week. In it he predicted an impending 1987-style stock market crash in the US
Many other experts, including angel investor Anthony Pompliano, state that the stock market is currently at its peak. Pompliano even noted that Jeff Bezos, Bill Gates and many US politicians sold their stocks in large quantities as if they knew something.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in many aspects of the future. He has written for several crypto media outlets. His articles have been quoted by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.
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