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Cryptocurrency markets closely follow an analyst who suggests that Bitcoin (BTC) has reached its peak, while Ethereum (ETH) and other altcoins are on the verge of rising. The senior analyst also mentioned that he expects a DeFi project to perform better than BTC.
Expectations of a Surge in DePIN Projects
Popular cryptocurrency analyst Michael van de Poppe stated on social media platforms that he anticipates decentralized finance (DeFi) protocols and decentralized physical infrastructure (DePIN) technology projects to start outperforming Bitcoin. DePIN projects involve the use of cryptocurrencies and blockchain technology to promote the construction of real-world infrastructure. Expert cryptocurrency analyst Michael Van de Poppe commented on the subject:
ETH/BTC shows a strong weekly candle. It looks like the rotation has started. DeFi/DePIN will significantly outperform. Bitcoin is close to reaching its peak. Other ecosystems are starting to look good.
At the time of writing, the ETH/BTC pair has seen an increase of over 3% in the last 24 hours, trading at 0.05700 BTC ($2,953). Furthermore, the cryptocurrency analyst predicts that the leading cryptocurrency could reach up to $58,000 before a market correction occurs, adding:
Bitcoin is consolidating at $52,000 with a total market value of $1.9 trillion. The rise seems relatively limited for Bitcoin. My overall thesis is a continuation to $54,000-$58,000 followed by consolidation and a broader correction.
Bull Cycles in Bitcoin
The analyst also mentioned that Bitcoin will follow a historical price pattern and will significantly exceed its current value within two years, concluding his remarks with:
Bitcoin’s cycle reaching its peak in December 2017 from April 2016. This is similar to Bitcoin’s cycle peaking in November 2021 from March 2020. Bitcoin’s value is $51,000, but it will be significantly higher within two years. Accumulate as much as possible.
Bitcoin is trading at $51,835, up approximately 4% over the past seven days at the time the article was written.
