Michaël van de Poppe, a trader and investor, believes that many in the crypto community overlook the impact of America's growing debt.

He says Bitcoin is back in a bull market and could hit $1 million per coin in the next few years. However, he warns that reaching this milestone might come with a broader debt crisis that could negatively affect all asset prices in the short term.

In an interview with Jonathan DeYoung on Decentralize with Cointelegraph at DKGcon 2024 in Amsterdam, van de Poppe discussed several important topics. They talked about the current Bitcoin bull market, the potential for an altseason, and the implications of a Donald Trump presidency.

During their conversation on October 24, right before Bitcoin reached new all-time highs, van de Poppe noted that while Bitcoin is indeed in a bull market, it had been stuck in what he calls the “boring zone.” He’s optimistic, saying, “I believe we are on the verge of a perfect storm, or we are actually building it already. Next year is going to be big.” He also suggested that the next cycle could last longer than the previous one, possibly peaking around 2026.

When asked about Bitcoin reaching the much-discussed $1 million price, van de Poppe thinks it’s possible, as long as central banks keep printing money. However, he cautions that many investors don’t pay enough attention to rising debt levels. He stated, “This will be recalled at some point, leading to a debt crisis like we saw in 2008.” If that happens, the number of dollars in circulation will drop, which means purchasing power will decrease, and Bitcoin’s price will also be affected. He expects that while Bitcoin might eventually hit $1 million, a crisis in the meantime could be disastrous for the value of all dollar-denominated assets.

Van de Poppe also shared his thoughts on how President-elect Trump’s administration might impact Bitcoin. He believes people often overrate the importance of elections. He said, “In the long term, it doesn’t matter.” According to him, Bitcoin operates independently of government actions and policies. He acknowledged that Trump’s regulatory approach could be good for Bitcoin in the short term, “at least if he does what he says.” However, he warned that the mid-term effects could be negative, especially since Trump aims to fight inflation. Ultimately, van de Poppe insists that no matter who is in charge, Bitcoin will continue to offer the same value it always has.

If you want to hear more from van de Poppe, including discussions about the potential for an altseason and tips for traders, check out the full episode of Decentralize with Cointelegraph. You can find it on Cointelegraph’s podcast page, Spotify, Apple Podcasts, or your favorite podcast platform.