- Crypto analyst Michaël van de Poppe claims Bitcoin is still “heavily undervalued” despite recent ATH, eyeing $150,000.
- Introduction of Spot Bitcoin ETFs and institutional demand signal a unique bull cycle, potentially pushing BTC above $200,000.
- “Bitcoin’s price surge is just the beginning; historical patterns suggest the peak could reach between November 2024 and February 2025,” says Ali Martinez.
Despite reaching a new all-time high, Bitcoin is considered undervalued by experts, with predictions setting its fair value much higher, indicating a bull run like no other in history.
The Underestimation of Bitcoin’s Value
Michaël van de Poppe’s assertion that Bitcoin remains “heavily undervalued” at its current levels has sparked discussions about the cryptocurrency’s true potential. With predictions ranging from $150,000 to over $200,000, experts believe that the current bull cycle, bolstered by the introduction of Spot Bitcoin ETFs and increasing institutional interest, will outperform previous market cycles. This optimism is grounded in the significant demand outpacing the miners’ supply, especially as the Bitcoin Halving approaches, potentially exacerbating the supply-demand imbalance and fueling further price increases.
A Bull Run Unlike Any Other
The current bull cycle is distinguished by several factors that set it apart from past cycles, including the involvement of institutional investors through Spot Bitcoin ETFs. This cycle’s dynamics are also influenced by a constrained supply due to the upcoming Bitcoin Halving, which historically has led to price surges. Analysts like Ali Martinez highlight that, based on historical patterns, Bitcoin could be on its way to reaching new heights in the next year, with a market top predicted between November 2024 and February 2025. However, as Alex Thorn from Galaxy Digital cautions, the path to these new highs will likely include sharp corrections, underscoring the volatile nature of bull markets.
Conclusion
Bitcoin’s journey past its recent all-time high of $70,000 is just the beginning, according to crypto analysts who see the digital asset as significantly undervalued. With the introduction of Spot Bitcoin ETFs and a growing institutional demand, the current bull cycle is poised to be unprecedented. While optimistic predictions set Bitcoin’s fair value at figures well above $100,000, investors are reminded of the potential for volatility and corrections along the way. As the market anticipates the next Bitcoin Halving, the stage is set for a fascinating period in the cryptocurrency’s history, potentially leading to record-breaking price levels.
