Bitcoin Could Experience Final Correction, Says Crypto Analyst Michaël van de Poppe
Crypto analyst Michaël van de Poppe predicts that Bitcoin (BTC) may undergo one last significant downward move. In a recent video, Van de Poppe informs his YouTube subscribers that Bitcoin could potentially drop by around 10% from its current levels, marking a “final correction.” However, according to the analyst, long-term Bitcoin bulls should view this correction as an opportunity to increase their BTC holdings.
Van de Poppe mentions that Bitcoin is currently priced at $25,000 and discusses the delay in spot ETFs for Bitcoin. He also reveals that an announcement for ETH Futures ETFs is expected in the next three to four weeks. Van de Poppe concludes that while a final correction is likely, investors should pay attention if Bitcoin closes below the 200-week exponential moving average at $23,000 or $24,000. With institutions entering the market, he believes that the current market conditions present a favorable long-term buying opportunity.
Hot Take:
Crypto analyst Michaël van de Poppe suggests that Bitcoin may experience its final correction, potentially dropping by 10% from its current levels. However, he advises long-term Bitcoin bulls to view this correction as an opportunity to add to their holdings. Van de Poppe highlights the importance of the 200-week exponential moving average and advises investors to monitor if Bitcoin closes below $23,000 or $24,000. Despite the correction, the analyst believes that the market remains attractive for long-term investment, especially with the involvement of institutional investors.
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