Crypto Market Cap Has Completed Its Correction and Will Restart Its Bull Run Soon, Analyst Says

Michael van de Poppe, the analyst in question, believes that the next long-term target for the crypto market capitalization is $4 trillion.

As the latest crypto recovery unfolds, one analyst predicts that the total market capitalization has completed its short-term correction and is poised to resume its bull run. According to Michael van de Poppe, a renowned crypto analyst, the next long-term target for the crypto market capitalization is a valuation of $4 trillion. For context, the total market cap at the time of writing is just above $2.3 trillion.

A Tweet from van de Poppe on March 13 reads:

The analyst arrives at the next Fib level by using the 0.618 Fibonacci retracement level from the All-Time High (ATH) peak of $2.72 trillion, which gives a retracement value close to the $2 trillion mark. The crypto market capitalization adhered to the Fibonacci sequence and managed to bounce back from this key support level. If it had been breached, the next Fib level would have been at 0.5 Fib, at around $1.85 trillion.

Continuing his analysis, van de Poppe suggests that the next long-term target for the cryptocurrency market cap is at the 1.618 Fib level, which is just below the $4 trillion valuation ($3.95 trillion). After that, the next Fib sequence is 1.786 and $4.85 trillion.

This prediction seems attainable for the digital currency market, especially considering that the bull market has only just begun. Bitcoin alone is predicted to reach anywhere from $100k to $250k by the end of this cycle, with a target market capitalization of $2-4.5 trillion. As the bull cycle progresses, altcoins are expected to follow suit and erode Bitcoin's majority share of the proceedings.

What will be the contribution of Bitcoin and Altcoins?

Although the total market capitalization is anticipated to reach $4 trillion at some point during this cycle, predicting the precise contribution of each digital currency is quite challenging. The crypto market has experienced massive altcoin runs in the last two bull markets (2016-2017 and 2020-2021). However, BTC was always the first to rise, and the rest of the market followed eventually. BTC is expected to have a major slice of the bull run, and its dominance can remain above 40% even in the end.

While pinpointing the exact timing of this major price surge is difficult, the market is expected to perform well in the latter half of 2024, which could lead to a strong 2025. Depending on broader economic factors, the total crypto market capitalization could reach record highs by Q3 or Q4 of 2025.

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