• Michael van de Poppe predicts a potential altcoin rally if Bitcoin breaks the $30K mark.
• He believes that altcoins will reach a cycle low and recommends traders to start accumulating now.
• Van de Poppe also suggests that altcoins may experience one more correction after Bitcoin reaches $30K, bringing them into the $42,000-$45,000 region.
Altcoin Rally Coming Soon
Crypto analyst Michaël van de Poppe has recently predicted a potential altcoin rally if Bitcoin breaks the $30K mark. He believes that altcoins are nearing a bottom and encourages traders to start accumulating now as they may experience one more correction post the $30,000 level.
Bitcoin Nears $30K Breakout
Van de Poppe mentions that Bitcoin is currently trading around $27,150 and has shown a great response after reaching $27,400. He advises traders to keep an eye on the support level of $26,800 as an entry point for traders, and for a trend reversal it is important for BTC Price to hold above support of $27,800 and break the resistance at $29,200.
Start Accumulating Altcoins Now
In his recent YouTube update Van de Poppe told his 163,000 subscribers that altcoin dominance is largely dependent on what Bitcoin does next. Hence with regards to altcoins, Van de Poppe sees them getting close to a potential cycle low and encourages traders to start accumulating now in order to potentially sell in 1-2 years when they are expected to rise again in value.
Altcoin’s Dependency on Bitcoin
The performance of altcoins largely depends on how well bitcoin performs as it is still considered as the king of cryptocurrencies in terms of market capitalization and influence within the crypto space. Therefore any positive move from bitcoin will likely result in positive movements among other cryptocurrencies including some popular ones like Ethereum (ETH), Ripple (XRP) etc.
Overall Michael van de Poppe’s prediction seems quite optimistic given current market conditions but only time will tell whether or not his predictions come true. Investors should always do their own research before investing in any asset class including cryptos as there are always risks involved when dealing with digital assets such as volatility which could lead to losses if proper precautions are not taken by investors/traders before entering into any trade or investment position within cryptocurrency markets.