Altcoins
As cryptocurrency prices and sentiment decline, one analyst says Bitcoin’s fall is almost over
After a week of cryptocurrency price declines led by Bitcoin (Bitcoin), a widely followed analyst says the bottom is almost reached.
Cryptocurrency trader Michaël van de Poppe warns According to its 715,600 followers on social media platform
“It will take some time for Bitcoin.
However, most of the disadvantage has been resolved.
There may be another 5-10% correction, but from here altcoins will take over until Bitcoin hits an all-time high.
Source: Michaël van de Poppe/X
At the time of writing, BTC is worth $59,290, up 4% in the last 24 hours.
Pulling back the curtain on altcoins, Van de Poppe He says this collapse should be expected after the long hibernation of a bear market.
“Sentiment is low, retail is not there and expectations are that markets will continue to fall.
This is entirely expected after the longest bear market for altcoins, which has lasted for 2.5-3 years.”
Looking specifically at Ethereum (ET) Layer-2 altcoin optimism (OPERATION), the analyst remains optimistic on the future of the token.
“One of the strongest players after the last low; OPERATION.
It has already increased by more than 50%.
In anticipation of continuing to run in the next period, every 20-30% drop is an opportunity to collect more.”
Source: Michaël van de Poppe/X
At the time of writing, OP is worth $2.77, up 9% on the day.
Focusing on the leading altcoin by market cap, Ethereum, the crypto analyst thinks ETH could drop to $2,500 before the rally.
“Ethereum could drop to the $2,500 area for optimal play.
Personally, I don’t think the markets will undergo such a severe correction.
Most of the disadvantage is already there.”
Source: Michaël van de Poppe/X
At the time of writing, ETH is trading at $2,997, up 4% from yesterday.
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