In a recent interview with Decentralize with Cointelegraph, trader and investor Michaël van de Poppe made some bold predictions about Bitcoin’s future price. According to van de Poppe, Bitcoin is officially back in a bull market and could potentially hit $1 million per coin in the next few years.
However, as founder of MN Consultancy, MN Capital, and MN Academy, van de Poppe also warned that such a price might come alongside a much broader debt crisis that could wreak havoc on the price of all assets in the short term.
What’s Driving Bitcoin’s Bull Market?
Van de Poppe sat down with host Jonathan DeYoung at DKGcon 2024 in Amsterdam to discuss the state of the Bitcoin bull market, whether an altseason is on the horizon, and more. When asked about what’s driving the current price action, van de Poppe explained:
"I still believe that, currently, we are on the verge of the perfect storm, or we are actually building it already, which means that next year is going to be big. But maybe that’s the difference: I think that the next part of the cycle is going to be longer than the previous cycle, so we’re going to end up somewhere in 2026."
Will Bitcoin Reach $1 Million?
The oft-discussed $1 million price point for Bitcoin has been a topic of debate among investors and traders. Van de Poppe believes that it will likely happen as long as the de facto policy from central banks continues to be money-printing.
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However, he cautioned that many investors don’t pay close enough attention to ‘the amount of debt that we create, and that’s going through the roof. […] It’s going to be recalled at some point, so we’re going to have a debt crisis like we’ve seen in 2008."
"If that happens, the amount of dollars that we have in circulation is going to drop. And if that happens, the purchasing power is going to drop as well, and the price of Bitcoin will also change. So yes, at some point in time I expect it to happen. But if we have the crisis in between, yes, of course, it’s going to be disastrous for the valuation of all assets in the US dollar."
The Impact of a Donald Trump Presidency on Bitcoin
Van de Poppe also weighed in on the impact that United States President-elect Trump and his administration might have on Bitcoin. When asked about the potential effects, van de Poppe explained:
"I think people overrate the current elections. In the long term, it doesn’t matter."
"Bitcoin doesn’t care about governments, and it does care about policies."
He argued that Trump’s approach to regulation would be great for Bitcoin in the short term, ‘at least if he does what he says.’ However, the mid-term impacts could be ‘disastrous,’ as he has stated he is determined to end inflation.
Ultimately, regardless of who is in charge, Bitcoin will continue to offer the same value propositions it always has, van de Poppe said:
"I think in the short term, people overrate the elections. […] Just it doesn’t really make sense. It’s going to be the same outcome at the end of the day."
Conclusion
In conclusion, Michaël van de Poppe’s predictions for Bitcoin’s future price are both exciting and cautionary. While he believes that a $1 million price point is possible in the next few years, he also warned about the potential consequences of a debt crisis.
As investors and traders continue to navigate the complexities of the cryptocurrency market, it’s essential to stay informed and adapt to changing circumstances. Whether or not Bitcoin reaches $1 million remains to be seen, but one thing is certain: its price action will be shaped by a combination of fundamental and macroeconomic factors.
Listen to the Full Interview
To hear more from van de Poppe — including whether an altseason is on the way and his advice for both new and veteran traders alike — listen to the full episode of Decentralize with Cointelegraph on Cointelegraph’s podcast page, Spotify, Apple Podcasts, or your podcast platform of choice.
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This article is for general information purposes only and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
