🚀 Bitcoin Back in a Bull Market
Bitcoin is officially in a bull market and could reach $1 million in the coming years, according to Michaël van de Poppe, founder of MN Consultancy. However, he warns that this milestone might coincide with a broader debt crisis, affecting all asset prices in the short term.
đź“Š The Path to $1 Million BTC
Speaking with Cointelegraph at DKGcon 2024, van de Poppe noted that Bitcoin is moving out of its “boring zone” and into a potential “banana zone.” He believes we are on the edge of a perfect storm, expecting the cycle to peak around 2026. A $1 million BTC is possible if central banks continue printing money, but an impending debt crisis, similar to 2008, could disrupt this.
đź’¸ Debt Crisis Concerns
Van de Poppe highlighted that excessive debt creation could eventually lead to a crisis. If the money supply drops, purchasing power will decline, impacting Bitcoin’s value in USD. While he expects Bitcoin to hit $1 million eventually, a crisis could trigger a temporary downfall in asset valuations.
Impact of Trump’s Presidency on Bitcoin
Addressing Trump’s return, van de Poppe argued that elections are overhyped. In his view, Bitcoin remains unaffected by government policies in the long term. While Trump’s regulatory stance may benefit Bitcoin in the short term, his aggressive approach to tackling inflation could have mid-term repercussions. Ultimately, Bitcoin's core value remains unchanged, regardless of who holds office.
Top comments (0)