Well-known crypto trader and analyst Michaël van de Poppe states that Bitcoin, which is continuously recording new all-time highs, is getting ready for a rally towards $40,000.
In his latest tweet, Van de Poppe informs his 91,700 followers that Bitcoin can appreciate more than 50% from the current level of $27,000.
Furthermore, the trader also underlines the reason for the prevailing Bitcoin bull cycle to be different from the one recorded three years back.
“Bitcoin above $26,000 while the retail hype is not even close to the previous all-time high at $19,700 in 2017. Bull market.”
Even though Van de Poppe has a bullish view of Bitcoin, he cautioned traders that Bitcoin can turn extremely volatile and undergo a big, rapid price correction.
“Vertical moves often end in a swift correction (remember Summer ’19)? Those swift corrections are made for the establishment of a sideways range. Don’t get chopped out of a correction. The bull market will last for a longer period. Have a longer horizon.”
With respect to altcoins, Van de Poppe is of the view that market participants will soon churn their portfolio by booking profits in Bitcoin and invest in other cryptos. The trader opined that altcoins are currently consolidating and getting ready for a sharp rally at the start of 2021.
“I’m expecting altcoins Q1 2021. Bottoming in this period.”
The crypto analyst who has considerable number of followers is closely tracking two altcoins namely VeChain (VET) and Zilliqa (ZIL). He trusts VeChain will perform in an impressive manner against the greenback and also Bitcoin (BTC).
#Bitcoin breaking upwards even more as it’s approaching my second Fibonacci point of interest around $25,800.
The higher we go, the higher the next impulse move will bring us.
If $25,800 is this temporary top, next impulse could bring $BTC towards $40,000+. pic.twitter.com/CrcrUwVLXN
— Michaël van de Poppe (@CryptoMichNL) December 26, 2020
#Bitcoin above $26,000 while the retail hype is not even close to the previous all-time high at $19,700 in 2017.
Bull market.
— Michaël van de Poppe (@CryptoMichNL) December 26, 2020
While $BTC is shining at this point, some altcoins are already waking up.
That also happened previously. That’s why allocating towards them is a significant opportunity already.$VET is moving hard after the capitulation a few days ago.$ZIL also moving hard.
More to follow. pic.twitter.com/6rugzF8EX1
— Michaël van de Poppe (@CryptoMichNL) December 26, 2020
Vertical moves often end in a swift correction (remember Summer ’19)?
Those swift corrections are made for the establishment of a sideways range.
Don’t get chopped out of a correction. The bull market will last for a longer period.
Have a longer horizon. $BTC
— Michaël van de Poppe (@CryptoMichNL) December 27, 2020
Every 10 minutes this question.
Probably you’re invested with money that you’ve lend your family and went balls deep into altcoins through which you’re checking the charts every 5 minutes on Christmas.
I’m expecting altcoins Q1 2021. Bottoming in this period.
Nothing changed.
— Michaël van de Poppe (@CryptoMichNL) December 26, 2020
Just a ticking timebomb before money flows towards the rest of the cryptocurrency markets.
After $BTC its run, it goes to large caps first.
— Michaël van de Poppe (@CryptoMichNL) December 26, 2020
#Zilliqa reached the second target zone for this impulse wave.
A run of 300%+ and a very bullish outlook for this one for 2021.
Points of interest: $0.035 and $0.048.
The next impulse wave will most likely bring a new ATH for this one. pic.twitter.com/Rt024cURcF
— Michaël van de Poppe (@CryptoMichNL) December 26, 2020
The trader also gave his opinion on Zilliqa (ZIL). He expects the crypto token to retrace before it zooms past $0.23 and posts a fresh all-time high (ATH).
He said:
“Zilliqa reached the second target zone for this impulse wave. A run of 300%+ and a very bullish outlook for this one for 2021. Points of interest: $0.035 and $0.048. The next impulse wave will most likely bring a new ATH for this one.”
