A Crypto Analyst Analyzes the Total Crypto Market Cap
A popular crypto analyst believes that the total market capitalization of the crypto market is set to rise, despite a few obstacles in its path. According to Michaël van de Poppe, a crypto trader, the current market cap is facing a similar hurdle as Bitcoin did at $38,000. However, breaking above $1.6 trillion would mean reaching levels prior to the Luna Crash and could lead to targets of $1.85 trillion and $2.2 trillion. Van de Poppe asserts that an upward trend is evident.
Lessons Learned from Trading Crypto
Prior to discussing Bitcoin, Van de Poppe shares some insights he has gained from trading cryptocurrencies recently. He emphasizes that failure in investments or building a company does not equate to personal failure or lack of entrepreneurial skills. Instead, it is important to learn from these experiences and move forward. Van de Poppe advises traders to spend time learning about market cycles, altcoin movements, money flow in crypto, and correlations within a bull cycle as this knowledge will be valuable in maximizing returns in the future.
Bitcoin Dominance and Ethereum’s Potential
Van de Poppe suggests that Bitcoin’s dominance over the market may be reaching its peak. While Bitcoin currently dominates due to momentum and the potential approval of an ETF, Ethereum could also receive approval for a Spot ETF. Therefore, Van de Poppe recommends allocating a significant portion of one’s portfolio towards the Ethereum ecosystem.
Conclusion: Positive Outlook for the Crypto Market
Despite some challenges, Van de Poppe remains optimistic about the total crypto market cap and believes it will continue to rise. He advises traders to stay informed about market trends and make strategic investment decisions accordingly.
By
By
By
By
By
By