‘Good Times Are Ahead’ – Trader Michaël van de Poppe Says Bitcoin Bear Phase Is Over – Here Are His Targets

Bitcoin analyst Michaël van de Poppe has made a bold statement, declaring that the bear phase for Bitcoin has officially come to an end. According to Van de Poppe, the cryptocurrency has been showing a series of higher lows and a strengthening technical structure across multiple timeframes, indicating a positive momentum for Bitcoin.

Van de Poppe shared his insights on Twitter, stating, “The upside on commodities is done. The bear phase for Bitcoin is also done. Good times are ahead. The fact is that we’ve been establishing this range for quite some time. However, with this build-up, I think that we’ll see $75,000-80,000 in March.”

In addition, Van de Poppe pointed to the BTC versus gold chart as further evidence of Bitcoin’s bullish outlook. He explained, “BTC vs. Gold has hit its bottom. The simple reason for that is a technical one. Has nothing to do with any of the geopolitical situations. Just technical. There’s a strong bullish divergence on the daily and weekly timeframes.”

Addressing concerns about potential market shocks from geopolitical events, Van de Poppe reassured investors that the impact of the recent US and Israel’s attack on Iran has already largely subsided. He advised, “Be rational; there’s a lot of rumors on ‘what might happen’ after this and those are all fear-driven. Reality isn’t probably going to be that bad. Fear sells during these periods.”

Van de Poppe also predicted a shift in investment behavior, stating, “I think that we’ll see more sell-offs taking place from smart people in Gold and Silver and rotation towards equities and Bitcoin.”

As of the time of writing, Bitcoin is trading at $68,291, experiencing a 3.7% decrease in the last 24 hours.

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(Image credit: Midjourney)