Bitcoin price will hit $1M, but at what cost? — Michaël van de Poppe

2024-11-12 09:32:36 Primitive Reading

From cointelegraph by Jonathan Deyoung

Bitcoin is officially back in a bull market and could potentially hit $1 million per coin in the next few years, according to trader and investor Michaël van de Poppe.

However, the founder of MN Consultancy, MN Capital and MN Academy warned that a $1 million Bitcoin BTC$83,798 price might come alongside a much broader debt crisis that could wreck the price of all assets in the short term.

Van de Poppe sat down with Decentralize with Cointelegraph host Jonathan DeYoung at DKGcon 2024 in Amsterdam for an exclusive interview to discuss the state of the Bitcoin bull market, whether an altseason is on the horizon, the impact of a Donald Trump presidency, and more.

Bitcoin price to $1 million?

Van de Poppe, who spoke with DeYoung on Oct. 24 — prior to Bitcoin’s recent return to new all-time highs — said that Bitcoin was back in a bull market but that it had been stuck in the “boring zone” while waiting for a return to the “banana zone.”

“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,” he said. “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 in somewhere 2026.”

As to whether Bitcoin will ever reach the oft-discussed $1,000,000 price point, van de Poppe said it will likely happen as long as the de facto policy from central banks continues to be money-printing.

Related: Bitcoin gained 1,900% in Trump’s first term: Will BTC price hit $1M this time?

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