Famous cryptocurrency analyst Michael van de Poppe believes that Bitcoin (Bitcoin) is not at risk of a sudden collapse in the coming months.
From D-Pop He tells His 821,000 followers on
“Obviously there is no reason to expect Bitcoin to suddenly fall. There is a general consensus that we are in a bearish position and that we should see $50,000 later this year. How come? Shouldn’t we have seen any new ATH (all-time high) before the halving as well? The last shock in February was one of the heaviest shocks ever. It could be compared to the Covid crash. I remember a lot of people were screaming for new lows after that. It’s starting to get some momentum for the year 2018. We have touched $3,300, but we will definitely see lower fundamentals, and I don’t think we need to, we can easily test $70,000 to $75,000 again, but for now, we are going higher.
Bitcoin price is moving above the 21-day moving average, (moving average) and is clearly turning levels looking for support and there is a clear flat supply coming, while the NASDAQ remains strong as it is. The next resistance area is between $85,000 – $88,000.
Bitcoin is trading at $80,492 at the time of writing, down 1.5% over the past 24 hours.
The analyst is too Prediction Massive altcoin breakouts, suggesting the digital asset will benefit from increased market confidence and an influx of liquidity from Bitcoin’s gains.
“There is more upside ahead for altcoins. Most of them have barely moved against BTC. Literally almost nothing. Often times, these moves are violent and fast. They are not gradual because hype cycles are short-lived. This is why you position yourself before the actual move happens and not during the move.”
We are at that point where altcoins are grinding upwards with 20%+ strong days in between (these are primarily due to technical breakouts or liquidations). We will see more of these changes in the next month or two, before we start making further corrections. The higher Bitcoin goes, the more momentum altcoins have.
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