Analysis on Bitcoin and Altcoin Markets

Famous cryptocurrency analyst Michaël van de Poppe claimed in his assessments on social media that a major rise is on the horizon in the Bitcoin and altcoin markets.

According to Van de Poppe, the market is preparing for a bigger rally by the end of 2023. He stated, “The Altcoin Season Index shows that a massive altcoin season is about to begin. Over the last 5 years, this index has bottomed every summer, especially in June.

“Then we saw a strong rally in altcoins in the second half of the year,” he explained. The analyst believes we are currently in the midst of a bull market with global quantitative easing (QE) policies expected to ease, which may signal a significant movement in the last quarter of 2023.

Van de Poppe made bold predictions for Bitcoin prices:

• Bitcoin in Q3: $150,000
• Bitcoin in Q4: $250,000

He also noted that Bitcoin’s volatility has decreased, indicating a major price movement. The M2 money supply is rapidly increasing, and the likelihood of an interest rate cut appears close.

Highlighting the valuations of altcoins in comparison to Bitcoin, Van de Poppe remarked, “Due to macroeconomic conditions, the values of altcoins against BTC are at rock bottom. This indicates that we are in the depression phase of the cycle. After this phase, the bull phase will begin.”

This is not investment advice.