Altcoins Poised for an Upward Trend, According to Crypto Analyst Michaël van de Poppe
Crypto analyst Michaël van de Poppe suggests that altcoins are entering a new phase of growth after a prolonged period of low prices. Van de Poppe points to the increasing number of applications for crypto exchange-traded funds (ETFs) as an indicator of the upcoming strength in digital assets. He emphasizes that altcoins have reached their “depression phase” and are now ready to trend upwards.
In addition, van de Poppe notes that the interest in cryptocurrencies is currently at the same level as in 2020, while Bitcoin pairs are gradually breaking out. He also highlights the emergence of important indicators in the market, including the imminent introduction of a Bitcoin spot ETF, Ethereum spot ETF applications, and an Ethereum futures ETF.
The analyst references the Wall Street Cheat Sheet, which outlines the psychological phases that investors typically experience during volatile market cycles. According to the chart, the depression phase is followed by the disbelief phase, where prices start to rise slightly.
Bitcoin’s Price Range and Potential Breakout
Van de Poppe further discusses Bitcoin’s price range, stating that he is closely monitoring the $24,500 to $26,800 range. A move to the bottom of the range would indicate a discount, while a move to the top would suggest a breakout. The analyst advises against getting “chopped out” in this range, and expects a potential fake-out before the real move occurs.
At the time of writing, Bitcoin is trading at $25,873.
Hot Take: Altcoins Eyeing a Bullish Future
Crypto analyst Michaël van de Poppe believes that altcoins are on the verge of a significant uptrend, after enduring a prolonged phase of low prices. Van de Poppe’s observations are supported by the increasing interest in crypto ETFs, which indicates a strengthening market for digital assets. He suggests that altcoins have bottomed out and are ready to trend higher.
Additionally, van de Poppe highlights important indicators in the market, such as the imminent introduction of a Bitcoin spot ETF, Ethereum spot ETF applications, and an Ethereum futures ETF. These factors, combined with the consistent interest in cryptocurrencies, suggest that altcoins are primed for an upward movement.
Van de Poppe also discusses Bitcoin’s price range, advising caution within the $24,500 to $26,800 range. He anticipates a potential breakout if the price surpasses $26,800, and recommends buying if the price drops to $24,500-25,000. As the market continues to evolve, altcoins may provide lucrative opportunities for investors seeking growth in the crypto space.
Disclaimer: The information provided here is for informational purposes only and should not be seen as financial advice. Our team of writers strives to provide accurate, up-to-date information, but cryptocurrency prices and market conditions are subject to rapid change. Do your own research before making any investment decisions.
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