Prominent cryptocurrency trader Michaël van de Poppe considers the market is nearing that final phase of the cycle now since it has already seen tremendous returns and increased adoption, he said:
Bitcoin is in a similar stage to dot-com bubble
According to Poppe, the market is witnessing fundamental adoption analogous to the dot-com bubble. Not just via different nations but also through individuals seeking a better annual percentage rate (APR) through DeFi or simply utilizing a transfer or crypto to move their money from one country to another. The second reason he gave is that institutions are developing financial instruments in order to establish themselves in the markets; on top of that, there are the levels of record inflation, which he highlighted crypto as one of the best assets to invest in as a hedge.
Money is made in the last part of the cycle
The trading expert highlighted that “in a true run of the markets, the actual money is made in the last part of the cycle,” regarding this, he identified key on-chain metrics which suggest Bitcoin is still in an interesting zone. He added:
Long-term holder supply is a crucial indicator
Finally, Poppe analyzed why the valuation of Bitcoin is relatively low compared to the true valuation at this stage. The crypto analyst stressed the long-term holder supply combines with the fact that BTC is at a low valuation because long-term holders are accumulating their positions slowly as the market is climbing back up. Poppe stated: This he highlighted is the period he noted traders should be looking to actually start decreasing their positions or start to think about doing so. Ultimately he considers Bitcoin is ready for a big bull run and that one should be looking for longs rather than shorts when trading it. Watch the video: Michaël van de Poppe considers potential bull run Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
