“This Is Just Like 2020”: Crypto Fund Manager Says Bitcoin Crash Could Spark a Massive Breakout

Though Bitcoin’s recent correction has shaken markets, not everyone views tragedy ahead. Renowned Dutch crypto fund manager and analyst Michaël van de Poppe holds that the present selloff reflects the 2020 COVID market crash, a period that started an 18-month bull market. Van de Poppe contends that, with the Bitcoin price currently rebounding off crucial support and resuming upward momentum, this fall might be a trap for bears rather than the beginning of a protracted downtrend.

Van de Poppe’s 2020 Comparison

Bitcoin’s price action reveals to crypto fund manager Michaël van de Poppe a familiar pattern. Van de Poppe thinks history might be repeating itself, given the remarkable crash during the COVID-19 market panic in March 2020 and the recent drop from its all-time high of $109,000. Before starting an 18-month bull run, BTC sank below $5,000. Here, the Bitcoin price fell over 25% in early April and tested support at around $75,000. 

It's not at matter of speculation where the markets will be at tomorrow.

It's rather a case of 6-months from now and build your investment thesis around it.

If this correction is comparable to March '20, then we're about to witness a strong upwards run on #Bitcoin and…

— Michaël van de Poppe (@CryptoMichNL) April 8, 2025

The architecture, van de Poppe states, seems almost the same as that of the 2020s “bear trap,” in which buyers were jolted out before the direction of the market changed. He says the answer is to keep a long-term view rather than emotionally react to short-term swings. Another major cryptocurrency rally may be building on the foundation provided as assurance returns and liquidity flows back in. Particularly if historical trends hold, investors considering the six-month to one-year perspective might see possibilities in this correction rather than panic.

Technical setup and price reaction

According to crypto fund manager Van de Poppe’s most recent research, Bitcoin’s technical configuration is starting to back a bullish thesis. Bitcoin found good support in the $78,700 to $79,000 range following a steep pullback. Van de Poppe recognized this crucial psychological and technical level as key; a quick recovery above $80,000 followed this rebound. In two days, BTC had soared over $83,000, indicating strength and fresh purchasing appetite. He sees this step as a potential mid-cycle confirmation rather than the beginning of a more pronounced correction. 

#Bitcoin attacking $80,000 is a strong sign.

I don’t know whether we’ll be having another drop or whether we’ve 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

Although short-term instability is present, van de Poppe emphasizes general macro trends, especially rising liquidity and relaxed monetary conditions that may drive the following leg of the bull cycle. The sharp rebound from major support levels and the increasing sentiment indicate that the Bitcoin breakout could start ascending more rapidly than some would have thought. For the time being, investors are looking for verification of trend continuation above $83,000; their focus is on $90,000 as the next main resistance.

Final thoughts: A Bear Trap or a Breakout?

Crypto fund manager Van de Poppe’s examination implies that what seems like a bearish breakdown might instead be the start of a longer-term rally, as in 2020. With high levels of support sustained, revived upward momentum, and growing liquidity, a Bitcoin breakout could be setting the groundwork for its next big leap. Long-term investors might see this as the quiet before the next leg upward. If the past is any indicator, the 2025 cycle could simply be getting started.