Crypto Fund Manager Spots Repeat of 2020 Bear Trap in Bitcoins Price
Bitcoin was down on Friday, Apr. 11 by more than 25% from its historic record high price of $109,000 at the time of Trumps inauguration on Jan. 20th.
But MN Fund founder and manager Michaël van de Poppe recently compared the situation with BTC prices to the global financial dump and pump during the worst of the coronavirus pandemic in 2020.
2020 BTC Bear Trap Redux?
The markets kind of remind me of the COVID crash, van de Poppe wrote in an X post timestamped Apr. 8.
Massive dump and after that weve actually been quickly jumping back up with #Bitcoin, resulting into an 18-month bull market, he added.
The markets kind of remind me of the COVID crash.
Massive dump, and after that weve actually been quickly jumping back up with #Bitcoin, resulting into an 18-month bull market.
Michaël van de Poppe (@CryptoMichNL) April 8, 2025
A commenter in the reply thread agreed, remarking, The parallels are striking. After a sharp correction, Bitcoins resilience could set the stage for another significant bull run.
In addition, van de Poppe wrote, Its not at [sic] matter of speculation where the markets will be at tomorrow. Its rather a case of 6 months from now and build your investment thesis around it.
Bitcoin prices exhibit a strong historical trend of appreciating over many 6-month periods and delivering markedly higher returns on investment than average US stock returns.
If this correction is comparable to March 20, then were about to witness a strong upwards run on #Bitcoin and #Altcoins, the crypto fund manager added.
Its not at matter of speculation where the markets will be at tomorrow.
Its rather a case of 6-months from now and build your investment thesis around it.
If this correction is comparable to March 20, then were about to witness a strong upwards run on #Bitcoin and
Michaël van de Poppe (@CryptoMichNL) April 8, 2025
Bitcoin Price Bullish Trend Channel
A day earlier, van de Poppe spotted a channel upward for BTC, writing:
Bitcoin attacking $80,000 is a strong sign.
He added:
I dont know whether well be having another drop or whether weve seen it all. However, with the amount of liquidity being added, 6 & 12 months from now prices will be substantially higher.
#Bitcoin attacking $80,000 is a strong sign.
I dont know whether well be having another drop or whether weve seen it all.
However, with the amount of liquidity being added, 6 & 12 months from now prices will be substantially higher.
Michaël van de Poppe (@CryptoMichNL) April 8, 2025
With Bitcoins price trading back above $83,000 within 48 hours of this note on Apr. 11, and finding support on retests at the $78,700 and $79,000 levels on Apr. 10, these remarks are beginning to ring true.
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