Crypto Strategist Michael Van de Poppe Says Two Catalysts Could Propel Bitcoin to $30,000.
Michael Van de Poppe, a crypto analyst, predicts two macroeconomic drivers could spark a strong Bitcoin (BTC) bull run to $30,000.
The crypto strategist has informed the 664,200 Twitter followers that Bitcoin has been gradually rising and will experience a significant surge soon.
At present, Bitcoin is trading at $17,435. If we follow Van de Poppe’s prediction, this could potentially mean a gain of over 72% for BTC.
Van de Poppe explained that the first catalyst will be an increase in institutional investments. He believes that this could be a result of the current macroeconomic conditions and increasing adoption from major companies. The second driver could be retail investors, who have piled up on Bitcoin over the past few months as a hedge against inflation and currency devaluation.
In a determined attempt to battle inflation, the Federal Reserve propelled interest rates upward multiple times in 2021 – boosting the fed funds rate from an initial 0% to 0.25 %in January 2022 up to 4.25%-4.50% by December of that year.
Van de Poppe Says Two Catalysts Could Propel Bitcoin to $30,000
In a climate of high-interest rates, risk assets like Bitcoin and crypto tend to suffer as investors must now pay more in interest for investments. This can cause many people to shy away from these types of assets.
Van de Poppe believes that this could lead to an increase in institutional investments as large companies and investors seek out higher returns. This influx of money could then be used to fuel a BTC rally toward $30,000.
The analyst also suggested that retail investors may start investing more heavily in Bitcoin with the aim of protecting their wealth from inflation. As the US dollar continues to weaken, more investors may turn towards Bitcoin as a safe-haven asset and this could drive up demand for BTC and propel its price further.
Van de Poppe is eagerly awaiting the unveiling of the Consumer Price Index (CPI) on January 12th, expecting it to provide key insights.
With increasing institutional investments, coupled with increased interest from retail investors – both of which could be driven by macroeconomic conditions – Van de Poppe believes that Bitcoin has the potential to reach $30,000.
As Van de Poppe dives deeper into the Bitcoin market, he foresees a correction before bullish momentum can break past resistance at $17,500. After that, the strategist believes it will only be a matter of time before Bitcoin reaches $30,000.
