- One widely followed crypto analyst believes digital assets are on the precipice of a prosperous new era.
- Crypto trader Michaël van de Poppe tells his 718,500 followers on the social media platform X that better times are ahead for the markets.
- “This might be the final easy rally to change your life with crypto. If you have survived this correction and are still here, congratulations. The coming period is going to be great.”
Explore the promising shift in the cryptocurrency market as Michaël van de Poppe forecasts a significant rally.
Bitcoin’s New Support Level: A Prelude to Further Gains?
With Bitcoin (BTC) up 10% in the last week, Van de Poppe says that the $61,000 price zone has become the support for BTC’s next rally. “Crucial level has flipped for Bitcoin at $60,500-$61,000. It’s likely that the momentum will continue from here and the trend has switched. As a response, altcoins are running up substantially as confidence comes back in.”
Ethereum’s Lag Behind Bitcoin: A Temporary Setback?
As the altcoin markets follow Bitcoin’s lead, the analyst points out one notable exception: the leading altcoin by market cap, Ethereum (ETH). “Altcoins are waking up already, the only one lacking behind is ETH. On edge of a reversal here, as the dominance chart is facing a higher timeframe resistance + multiple big events are coming up for Ethereum with the exchange-traded fund and the lawsuits.”
Conclusion
This analysis by Michaël van de Poppe highlights a pivotal moment in the cryptocurrency market, with Bitcoin establishing new support levels and altcoins, except Ethereum, rallying in response. The future looks promising for investors who have weathered the recent market corrections.
