Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can ‘Buy The Dip’
Cryptocurrency enthusiasts are closely watching as each Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) near critical buying levels, in line with renowned analyst Michael van de Poppe.
What Happened: Van de Poppe has identified that Bitcoin and Ethereum are approaching levels where purchasing on dips could prove useful.
Van de Poppe stressed the importance of “dip buying” for Bitcoin, which is currently trading at $89,250. He identified that Bitcoin is nearing its first major focal point for traders.
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Meanwhile, Ethereum, priced at $3,040, can be nearing an optimal entry point.
“Dip buying, that is what we would like with Bitcoin. Getting near the primary focal point, and, within the meantime, ETH is getting close towards an optimal entry as well.”
“The final plan for the upcoming period is to purchase the dip.”
The analyst also highlighted opportunities in other altcoins, advising traders to look at for entry points in these digital assets in the approaching weeks.
Van de Poppe’s strategy for the near future involves buying dips, with altcoins expected to see significant breakouts.
He advisable maximizing potential gains by purchasing altcoins during 20-50% dips, allowing traders to capitalize on anticipated market movements within the cryptocurrency sector.
Why It Matters: The cryptocurrency market has been experiencing fluctuations, with recent events adding complexity to the trading landscape. Earlier this week, Federal Reserve Chair Jerome Powell’s remarks dampened hopes for rate cuts, causing Bitcoin to dip below $88,000 after initially surpassing $91,000. Ethereum also saw a decline, dropping from $3,240 to $3,040.
Despite these setbacks, optimism stays. On November 15, Ark Invest’s Cathie Wood projected Bitcoin’s price could reach as much as $1.5 million by 2030, citing regulatory relief and growing institutional interest.
Moreover, Arthur Hayes suggested that policies under President-elect Donald Trump might weaken the dollar, boosting Bitcoin’s value.
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