Widely-followed trader and crypto strategist Michaël van de Poppe is revealing how high Bitcoin can ascend in 2021 while sharing his outlooks on three altcoins.
In a new video, Van de Poppe tells his 94,000 followers when he expects the current bull cycle to top out.
“Given that the previous cycle took from November 2013 to December 2017, I am still standing by my view that our next top cycle point for this crypto cycle will be 2022/2023. I’m still not one of the guys that is currently expecting Bitcoin to top out in 2021.”
As the crypto analyst anticipates an extended bull cycle, he says he expects Bitcoin to consolidate at the start of 2021 before blasting off.
“Most likely, we’re going to have a grind throughout the first months of 2021, so most likely until April [or] May. We’re going to see such a grind then a further extension and then we get towards the peak high. If we see $29,000 as the top of this entire impulse wave, we can derive very easy targets through Fibonacci.
In which case, we can derive those Fibonacci levels based from this previous impulse wave, lowest at $9,800, high around $29,000, first target is $41,000, second one $60,000. If we do it from the entire low until now, you can actually start targeting $70,000, which is not unhealthy in the case that we get that correction, start to grind, have the altseason, and then start to break out again. [It’s not unhealthy] that we’re going to get into this range between $65,000 to $85,000. That is where I’m expecting us to be landing, which we’re going to be at this stage at the end of 2021.”
The crypto strategist also says Bitcoin can potentially rise over 10x before the current bull market comes to a close.
“During 2022, we are going to accelerate and have a run towards probably $200,000 to $300,000 and then we’re topping out for this cycle.”
As for XRP, Van de Poppe says it will continue to underperform.
“The year 2021 will be the year where Ripple will still not break the $1 price level.”
Looking at Polkadot (DOT), the trader outlines the areas of interest for the Ethereum competitor.
“Polkadot showed massive strength recently as it made a new all-time high. Also reached the first Fibonacci area that we’ve made in our previous analysis. Points of interest: $7.50 and $6.50 regions. The next target zone found around $12.”
The trader is keeping a close watch on Chainlink (LINK) as well as he says the LINK/BTC pair can potentially double in value.
“The FUD around Chainlink is amazing and remarkable for something that’s dropping down in price value. However, it might be bottoming here around 40,000 sats. A reversal can induce a rally of 100% before the real first resistance is hit.”
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