‘Bitcoin surge is imminent’: Crypto analyst Michaël van de Poppe says BTC is about to see a massive rally – here’s why

A widely followed crypto analyst predicts that Bitcoin (BTC) is on the verge of a massive breakout.

Crypto trader Michaël van de Poppe tells his 724,100 followers on social media platform X that the BTC price could soon skyrocket when the Fed begins its interest rate cuts later this month.

The analyst believes that the rate cut would bring more liquidity into the market, which could boost riskier assets like Bitcoin.

He also believes that investors will flock to this flagship digital asset because it offers a safe haven against economic uncertainty and currency devaluation in the United States.

“Bitcoin will rise significantly due to interest rate cuts and the likelihood of quantitative easing (QE). The worse the economic data, the greater the impact on interest in Bitcoin will be, as Bitcoin will serve as the safe haven that gold was in the 1930s – not as a hedge against inflation, but as a hedge against the uncertainty of a US failure.”

The analyst predicts that the next breakout in the crypto market will not be dominated by memecoins.

“I suspect we are on the verge of a potential massive breakout in the markets, either after the unemployment numbers or the Fed rate cuts later this month. I also believe we will see a full-scale crypto cycle where RWA (real-world assets), dePIN (decentralized physical infrastructure network) and DeFi (decentralized finance) will form the backbone of the actual adoption cycle. Not memecoins.”

The analyst also believes that Bitcoin will be the best performing asset as the economic cycle continues until it reaches its peak in the market cycle. He predicts that Bitcoin will form a blow-off top, which in technical analysis is a chart pattern that shows a sudden increase in price followed by a sharp decline.

“The unemployment numbers are still coming, and so are the changes in non-farm employment, but the signs are getting worse. The US dollar is losing momentum against other currencies as the Canadian dollar shows great strength alongside the Japanese yen and the euro. This is precisely why it is so important to have Bitcoin in your portfolio. It follows the pattern of gold in the 1930s and will likely represent the peak of this cycle. I think that Bitcoin's next peak will be the peak of the entire stock markets (or maybe they are already peaking while Bitcoin is rising; who knows?).”

At the time of writing, Bitcoin is trading at $53,828, down 4.4% in the last 24 hours.

Don't miss a thing – Subscribe to receive email alerts straight to your inbox

Check price promotion

Follow us on XFacebook and Telegram

Surf the Daily Hodl Mix

Generated Image: Midjourney