According to trader and investor Michaël van de Poppe, Bitcoin is officially back in the bull market and could potentially reach $1 million per coin in the next few years.

However, the founder of MN Consultancy, MN Capital and MN Academy warned that Bitcoin’s (BTC) price of $1 million could come amid a much broader debt crisis that could devastate the price of all assets in the brief term.

Van de Poppe sat down with Decentralization with Cointelegraph host Jonathan DeYoung at DKGcon 2024 in Amsterdam for an exclusive interview to discuss the state of Bitcoin’s bull run, whether an alternative season is on the horizon, the impact of Donald Trump’s presidency, and more.

Bitcoin price up to $1 million?

Van de Poppe, who spoke with DeYoung on October 24 – before Bitcoin’s recent return to modern all-time highs – said Bitcoin has returned to a bull market but is stuck in the “boredom zone” waiting to return to the “banana zone.”

“I still think we’re one step away from a perfect storm right now, and we’re actually already building to it, which means next year is going to be a big one,” he said. “But maybe that’s the difference: I think the next part of the cycle will be longer than the last one, so we’ll end up sometime in 2026.”

As for whether Bitcoin will ever reach the oft-discussed $1,000,000 price level, van de Poppe said it will likely happen as long as the de facto policy of central banks is to print money.

Related: Bitcoin gained 1,900% in Trump’s first term: will BTC price reach $1 million this time?

But he warned that many investors are not paying enough attention to “the amount of debt we are creating that is through the roof. […] At some point, someone will remember this, so we will have a debt crisis like in 2008.”

“When and if this happens, the amount of dollars we have in circulation will decline. And if this happens, the purchasing power will also decline and the price of Bitcoin will also change. So yes, I expect it will happen at some point. But if we have a crisis in the meantime, yes, of course, it will be catastrophic for the valuation of all assets in US dollars.”

The future of Bitcoin under Trump

Van de Poppe also addressed the impact that US President-elect Trump and his administration could have on Bitcoin. “I think people are overestimating this election,” he told DeYoung. “It doesn’t matter in the long run.”

“Bitcoin doesn’t care about governments and it doesn’t care about politics.”

He argued that Trump’s approach to regulation would be great for Bitcoin in the brief term, “at least if he does what he says.” However, the medium-term effects could be “catastrophic”, as he said he was determined to end inflation. Ultimately, no matter who is in power, Bitcoin will continue to offer the same value propositions as it always has, van de Poppe said.

“I think in the short term people overestimate the election. […] It just really doesn’t make sense. In the end, the result will be the same.”

To hear more from van de Poppe – including the upcoming alt season and his advice for both modern and experienced traders – listen to the full episode Decentralization with Cointelegraph on the Cointelegraph podcast page, Spotify, Apple Podcasts or your podcast platform of choice. And don’t forget to check out the full range of other Cointelegraph programs!

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This article is for general information purposes and is not and should not be treated as legal or investment advice. The views, thoughts and opinions expressed here are solely those of the author and do not necessarily reflect or represent the views and opinions of Cointelegraph.