A widely followed crypto analyst says the overall market cap of cryptos is on track to rise, even if a few hurdles remain in the way.
Crypto trader Michaël van de Poppe tells According to its 677,900 followers on social media platform
“The total market cap for crypto faces the same hurdle as Bitcoin, at $38,000.
A break above $1.6 trillion is a break back into pre-Luna Crash territory.
This would mean the targets are $1.85 trillion and $2.2 trillion, which is inevitable.
The increasing trend is clear.”
Before he dives into BTC, Van de Poppe shares what he has learned from trading crypto lately, and some advice on how to take lessons learned from the market apply them moving forward.
“What I learned during the crypto period
You may fail with your investments, but that doesn’t mean you’re a failure.
You may fail at building a business, but that doesn’t mean you’re not an entrepreneur.
If it doesn’t work out, you learn, you improve and you move on…
In these months; consume an equal amount of time learning about market cycles, altcoin movements, the flow of money in crypto and what correlations do within a bull cycle.
You need this information in 2024 and 2025 to maximize your returns.”
Van de Poppe looks directly at leading cryptocurrencies by market capitalization BTC say the crypto king may achieve its greatest dominance in the market.
“I honestly believe we are facing a peak in Bitcoin dominance.
Currently, momentum around the approval of Bitcoin and the exchange-traded fund (ETF) is skewed, but Ethereum could also get a Spot ETF.
Positioning yourself with a large allocation to the Ethereum ecosystem makes sense.”
BTC is worth $43,726 at the time of writing, up 3% in the past week.
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Generated image: Midjourney
Featured image: Shutterstock/phanurak rubpol