Analyst Michaël van de Poppe says Bitcoin is poised to jump to $ 40,000. Today, the cryptocurrency already costs around $ 27,000.
Michaël van de Poppe: Bitcoin ready to fly
“The higher we go, the higher the next impulse will go. If $ 25,800 is a temporary peak, the next boost could drive BTC to $ 40,000 “- the analyst wrote on December 26.
#Bitcoin breaking upwards even more as it’s approaching my second Fibonacci point of interest around $ 25,800.
The higher we go, the higher the next impulse move will bring us.
– Michaël van de Poppe (@CryptoMichNL) December 26, 2020
The trader also points out why the current BTC bullish cycle differs from the one it had three years ago. “Bitcoin is over $ 26,000 while the hype [medialny] at the retail level, it is not even close to the previous record level [jaki widzieliśmy przy] 19 700 USD in 2017 ” – he wrote.
The correction is still real
Although Van de Poppe is optimistic about the leading cryptocurrency, he warns his followers that we may still undergo a strong rate correction. “Vertical movements often end with a quick correction” – he wrote and suggested not to be scared by inheritances. “The boom will take longer. Have a longer horizon “, added.
When it comes to altcoins, Van de Poppe says it’s only a matter of time before market participants swap their BTC profits for other digital assets. The trader insists that altcoins are currently setting a bottom in preparation for a big move early next year. “I expect an altcoin rally in the first quarter of 2021. The lowest results are in this period”, added. “While BTC is lit at the moment, some altcoins are already waking up”, he noticed.
A popular cryptocurrency strategist closely watches two altcoins in particular. He believes VeChain (VET) is poised to perform well against BTC and the US dollar. Looking at Zilliq (ZIL), the trader says he is waiting for a correction before the rate surges above $ 0.23 and hits a new all time record (ATH).
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