Ethereum Dips Ahead of Bitcoin Halving, says Crypto Analyst
Crypto trader Michaël van de Poppe suggests that Ethereum’s current price dip may be linked to the upcoming Bitcoin halving. He points out that in 2019, Ethereum dipped prior to the Bitcoin halving, and the same pattern seems to be repeating in 2023. Van de Poppe also compares Bitcoin to commodities and notes that if commodities show strength, Bitcoin is likely to follow. He provides a chart to support his argument, showing how Bitcoin moves alongside commodities. Lastly, he mentions his top “newer coins” and “memecoins” to keep an eye on, including ARB, OP, INJ, SUI, PEPE, and DOGE.
Key Points:
- Ethereum’s price dip may be influenced by Bitcoin’s upcoming halving.
- Bitcoin’s price is likely to follow the strength of commodities.
- Bitcoin’s movement is similar to commodities, as shown in the provided chart.
- Van de Poppe names ARB, OP, INJ, SUI as top “newer coins” and PEPE, DOGE as top “memecoins” to monitor.
Hot Take:
As Ethereum experiences a price dip, crypto analyst Michaël van de Poppe suggests that this may be linked to the upcoming Bitcoin halving. He also compares Bitcoin to commodities and provides insights on potential altcoins to keep an eye on. This analysis offers valuable information for crypto traders looking for investment opportunities.
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