{"id":51598,"date":"2024-09-09T01:00:00","date_gmt":"2024-09-09T01:00:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-analyst-biggest-bull-cycle-45k-btc-price-floor"},"modified":"2024-09-09T04:09:47","modified_gmt":"2024-09-09T04:09:47","slug":"bitcoin-analyst-sees-biggest-bull-cycle-with-45k-now-btc-price-floor","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51598","title":{"rendered":"Bitcoin analyst sees 'biggest bull cycle' with $45K now BTC price floor"},"content":{"rendered":"

Bitcoin (BTC) is due some \u201cfinal corrections\u201d before spending the next two years on a bull run, bold new analysis predicts.<\/p>\n

In his latest X content, trader, analyst and entrepreneur Micha\u00ebl van de Poppe eyed $53,000 as the next BTC price dip target.<\/p>\n

BTC price forecast: “Clearly breaking back upwards” at $53,000<\/h2>\n

Few Bitcoin market observers are willing to go on record to call the end of six months of BTC price consolidation.<\/p>\n

For Van de Poppe, however, the end of one of the most frustrating episodes in Bitcoin history should be imminent.<\/p>\n

\u201cLiquidity was taken & #Bitcoin is back up to $54.8K,\u201d he wrote about short-timeframe moves on BTC\/USD on Sept. 7.<\/p>\n

\u201cExpect a max of $55.5K on this run and then we could be revisiting $53K before clearly breaking back upwards. Final corrections & then 2 years bull.\u201d<\/p><\/blockquote>\n

BTC\/USDT 4-hour chart. Source:\u00a0Micha\u00ebl van de Poppe\/X<\/em><\/figcaption><\/figure>\n

The day prior, another post included a chart with a potential roadmap for the recovery, barring any surprise \u201cevents\u201d throwing it off course.<\/p>\n

Bitcoin has failed to convince traders that lower lows will not surface \u2014 even a month after it hit a six-month bottom below $50,000. Despite favorable macroeconomic conditions around the corner, crypto market doom and gloom persists.<\/p>\n

Van de Poppe acknowledges the risks, arguing that equities are \u201crunning up on weakness.\u201d<\/p>\n

\u201cThe equity markets are fragile in terms of liquidity, and people are very eager to put their money away towards these assets due to fear of inflation. That’s going to reverse really soon,\u201d he forecast on Sept. 8.<\/p>\n

Bitcoin vs. S&P 500 echoes 2019<\/h2>\n

For Bitcoin, however, there is a silver lining \u2014 a major \u201ccrash\u201d is likely off the table.<\/p>\n

Related:\u00a0Bitcoin still 10% down post-halving amid record delay to all-time high<\/em><\/strong><\/p>\n

Instead, BTC\/USD is copying behavior from 2019 when compared to the S&P 500, with the implication that it is just at the start, not the end, of a long-term bull market.<\/p>\n

\u201cWe can also see that there\u2019s been a significant correction taking place on the markets, which is likely coming to an end, just like the correction in 2019 landed at $6K, we\u2019re likely landing at $45-50K on Bitcoin,\u201d Van de Poppe concluded.<\/p>\n

\u201cFrom that perspective, with the upcoming rate cuts from the FED the weakening economy, and the global liquidity being increased in China, it seems almost inevitable that we\u2019re actually at the edge of the biggest bull cycle ever.\u201d<\/p><\/blockquote>\n

BTC\/SPX 1-week chart.\u00a0Source: Micha\u00ebl van de Poppe\/X<\/em><\/figcaption><\/figure>\n

As Cointelegraph continues to report, Sept. 18 will see the United States Federal Reserve meet to decide on interest rate changes, with markets long pricing in 100% odds of a rate cut.<\/p>\n

This should ultimately benefit crypto and risk assets, as lower rates encourage liquidity to enter the markets.<\/p>\n

BTC\/USD traded at around $54,000 into the Sept. 8 weekly close, per data from Cointelegraph Markets Pro and TradingView.<\/p>\n

BTC\/USD 1-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

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Bitcoin (BTC) is due some \u201cfinal corrections\u201d before spending the next two years on a bull run, bold new analysis predicts. In his latest X content, trader, analyst and entrepreneur Micha\u00ebl van de Poppe eyed … Bitcoin analyst sees 'biggest bull cycle' with $45K now BTC price floor<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51600,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,3544,3812,5652,10,159,97],"class_list":["post-51598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-bitcoin-news","tag-cryptonews","tag-emilynews","tag-hyip","tag-hyipnews","tag-hyips","exalt-entry"],"yoast_head":"\nBitcoin analyst sees 'biggest bull cycle' with $45K now BTC price floor - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51598\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin analyst sees 'biggest bull cycle' with $45K now BTC price floor - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Bitcoin (BTC) is due some \u201cfinal corrections\u201d before spending the next two years on a bull run, bold new analysis predicts. 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