A widely followed crypto analyst says Bitcoin (BTC) is on the verge of an upward move.
In a new thread, crypto trader Michaël van de Poppe tells His 763,900 followers on the social media platform
“We will most likely see a new boost on Bitcoin in the near future. However, I think it is more likely that altcoins will outperform Bitcoin, especially the ETH ecosystem. Lower yields, a weaker dollar and progressive crypto regulation are all fueling market momentum.”
According to the strategist, the current crypto cycle is ‘more complex’ than the previous one and thus continues a trend from the previous cycle. From de Poppe say his strategy will consist of maximizing his risk on altcoins because he thinks they are about to breakout.
“I think this bull cycle is more complex than the last one. Just like 2021 was more complex than 2017, because everything literally kept rising in 2017. That’s why I have a semi-active trading strategy.
I’m holding it for now, but I will actively trade those altcoins and make sure I lower my risk on the way up. At this point: I would like to have maximum exposure to risk as we are literally at the beginning of the upward movement for altcoins.”
The top crypto asset by market cap is trading at $104,699 at the time of writing, up 5.1% over the past 24 hours.
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Generated image: Midjourney