Widely followed analyst Michaël van de Poppe believes it is only a matter of time before Bitcoin (BTC) and altcoins regain their uptrend.
The trader tells his 759,000 followers on social media platform X that he believes Bitcoin and altcoins are about to hit a local bottom.
According to Van de Poppe, cryptocurrencies will see renewed upward movements once the market decline is over.
“The correction is almost over and the time for an uptrend is looming for altcoins and Bitcoin.
I expect a lot more to come.
The optimal entry points for long Bitcoin positions are around $90,000 and we are getting those.”
Looking at Bitcoin itself, the crypto strategist believes that BTC will continue to post weak performance until US President-elect Donald Trump takes office.
“The scenario with Bitcoin remains the same.
I still expect that we will see more downside momentum before Trump and then bounce back up from there.
The ideal range is around $90,000.”
At the time of writing, Bitcoin is trading at $93,855.
As for the native asset of the popular Layer 1 platform Cardano, Van de Poppe believes that ADA is about to bottom out. He too…
