Crypto Trader Believes Market is Undervalued
A well-known crypto analyst believes that the crypto markets are still undervalued, despite recent rallies. According to Michaël van de Poppe, a crypto trader with a large following on social media, the current stage of the market is a “buy the dip” phase for both altcoins and Bitcoin (BTC). He suggests that Ethereum will likely gain momentum in the coming months.
Bitcoin Expected to Remain Range-Bound
Van de Poppe predicts that BTC will continue to trade within its current range for the time being. He also advises investors to take advantage of dips in altcoins, as they present buying opportunities.
Chainlink Consolidating Before Continued Growth
The analyst specifically mentions Chainlink (LINK), stating that it is currently in a consolidation phase before further growth. Van de Poppe suggests that LINK may test the $12-13 range before continuing towards $25.
Ethereum’s Upward Trend Continues
Van de Poppe believes that Ethereum’s trend remains upward, regardless of its next move. He notes that even if ETH corrects to $1,900, the overall trend is positive, with the next area of resistance expected between $3,400 and $3,800 in Q1 2024.
Hot Take: Crypto Market Offers Buying Opportunities
According to crypto trader Michaël van de Poppe, the current state of the market presents buying opportunities for altcoins and Bitcoin. He believes that the market is still undervalued and expects Ethereum to gain momentum in the coming months. While Bitcoin may remain range-bound for now, altcoin dips are seen as favorable for investment. Chainlink is consolidating before continuing its growth, and Ethereum’s upward trend remains intact. Overall, the market offers potential for investors to capitalize on the current undervaluation.
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