Bitcoin Major Bull Run Looms — Analyst

With
the
US
economy
slowing
down,
many
are
looking
at
Bitcoin
as
the
next
big
safe
haven,
much
like
gold
did
during
the
1930s.
And
with
the
continued
downturn
in
US
economic
data,
many
have
been
speculating
on
how
cryptocurrencies,
especially
Bitcoin,
would
react
to
this
perfect
storm
brewing.

Popular
analyst
Michaël
van
de
Poppe
says
Bitcoin
could
very
well
follow
the
trajectory
of
the
historic
rise
of
gold
during
the
Great
Depression.

As
views
on
US
debt,
inflation,
and
rising
interest
rates
pile
up,
Bitcoin
is
increasingly
touted
as
a
hedge
against
economic
uncertainty.
Van
de
Poppe
is
among
the
analysts
taking
the
view
that
Bitcoin
will
have
its
ultimate
rally
very
soon
and
that
it
will
be
sustained
via
rate
cuts
and
quantitative
easing
policies.

The

#Bitcoin
Surge
is
Close

It’s
typical.
The
four-year
cycle
is
taking
place
just
like
any
other
cycle,
but
the
significance
of
this
cycle
is
comparable
to
the
1930’s
of
Gold
or
the
https://t.co/GoodB359DI
bust
in
2000.

The
impact
of

$BTC
will
be
massive
over
the
following…

pic.twitter.com/ZARsWX4qf8

—
Michaël
van
de
Poppe
(@CryptoMichNL)

September
5,
2024

Comparisons
To
The
Gold
Standard

The
analogy
to
gold
isn’t
all
that
far-fetched.
During
the
1920s,
gold
was
still,
under
the
Gold
Standard,
but
once
the
economy
went
up
in
smoke
during
the
1930s,
the
precious
metal
surged.
That
may
be
exactly
how
it
is
playing
out
today
with
Bitcoin.
Van
de
Poppe
insists
the
four-year
cycle
for
Bitcoin
remains
intact,
just
like
during
economic
turmoil,
how
gold
went
through
a
predictable
series
of
cycles.

BTC market cap currently at $1.07 trillion. Chart: TradingView.com

The
global
economic
landscape
is
shifting,
with
the
US
national
debt
more
than
$35
trillion
and
the
Federal
Reserve
fighting
to
hike
interest
rates
while
trying
not
to
continue
the
elimination
of
inflation.
Most
countries
in
the
world,
such
as
China,
are
getting
their
portfolio
off
the
US
dollar.
That
could
weaken
the
greenback’s
current
stranglehold
on
the
world,
pushing
more
investors
toward
alternative
assets
like
Bitcoin.

Bitcoin:
A
Bullish
Breakout
On
The
Horizon?

But
Van
de
Poppe
is
not
the
only
one
who
is
super
bullish
about
Bitcoin.
According
to
him,
the
US
economy
will
ready
itself
for
one
final
huge
bull
run
well
in
advance
of
the
much-expected
financial
crisis.
Rate
cuts
from
the
Fed
expected
later
this
month
will
be
a
last-ditch
attempt
to
keep
the
economy
alive.
In
fact,
those
cuts
could
power
a
surge
in
Bitcoin
instead.

Image: IIFL Finance

Investors
in
these
uncertain
times
hedge
into
such
assets
as
gold
and
Bitcoin.
These
assets
have
fared
quite
well
during
economic
decline.
In
the
light
of
such
thinking,
Van
de
Poppe
voices
the
increasingly
growing
trend
of
analysts
who
look
upon
Bitcoin
as
a
modern-day
store
of
value.

The
End
Of
The
US
Dollar’s
Dominance

Probably
one
of
the
biggest
movers
of
interest
in
Bitcoin
is
a
weak
US
dollar.
With
inflation
on
the
rise
and
interest
rates
doing
the
same,
holding
cash
is
not
quite
as
attractive.
That
seems
to
have
translated
into
a
shift
in
how
people
and
institutions
keep
their
portfolios.
Van
de
Poppe
also
mentioned
how
other
currencies
such
as
the
Japanese
yen
and
euro
are
gaining
strength
as
the
US
dollar
demonstrates
weakness.

Featured
image
from
Pexels,
chart
from
TradingView