A Crypto Analyst Explains Bitcoin’s Consolidation and Ethereum’s Rivals
A popular crypto trader, Michaël van de Poppe, has reassured traders that Bitcoin’s current consolidation is just a temporary dip in the ongoing bull market. According to van de Poppe, it is normal for the market to cool down towards the end of the year. He advises traders to buy the dips, as it is still a bullish market.
At the time of writing, Bitcoin is valued at $42,122, experiencing a 3.6% decrease in the last week. Van de Poppe also discusses Solana (SOL), an Ethereum competitor, stating that it will likely cool down for now as attention shifts towards ETH and other ecosystems. SOL is currently trading at $106.
In addition, van de Poppe analyzes Sui (SUI), another lesser-known rival of Ethereum. He believes that SUI has a good chance of rallying against Bitcoin (SUI/BTC) alongside other emerging ecosystems like Arbitrum and Optimism. SUI is currently valued at 0.00001919 BTC or $0.811.
Hot Take: Crypto Analyst Remains Bullish Despite Bitcoin’s Consolidation
Despite Bitcoin’s recent consolidation and the cooling down of altcoins like Solana, crypto analyst Michaël van de Poppe remains bullish on the overall market. He expects the rally to resume from Monday onwards and advises traders to take advantage of buying opportunities during this dip in the bull market. Van de Poppe also highlights potential long-term entry points for Solana and Sui, emphasizing their growth potential in relation to Bitcoin and Ethereum. As the year comes to a close, it will be interesting to see how these predictions play out in the crypto market.
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