Top analyst updates Bitcoin Outlook as ‘tons of fear’ creeps through crypto markets
A widely followed cryptoanalyst who predicted Bitcoin’s (BTC) recent drop to levels below $23,000 says he is now bullish on BTC.
Crypto trader Michaël van de Poppe tells his 164,000 YouTube subscribers that now is the time to jump into the markets.
“Even if you see all the negativity with Mt. Gox, the Ethereum Shanghai lock up, and also this issue with Silvergate, it’s time to start buying. Dollar cost average into the markets. Like you do when the markets are bloody.”
Speaking to his 650,100 Twitter followers, Van de Poppe repeats his points with two different ones takes on how traders should view the current markets.
“Tons of fear in the markets.
Just buy and hold.
Simple…
People were so eager to buy into crypto two weeks ago.
People are now so eager to sell their crypto.
Reverse that psychology.”
With BTC worth $22,440 at the time of writing, the trader is trading says he waited for the royal crypt to fall to this level before buying back in.
“That’s why I waited a long time to be bought on Bitcoin.
Wanted to see a clear break at $23,800, which we couldn’t get.
Then waiting for the $22,300 area, which has been hit and filled now.”
The trader is also looking at the Ethereum (ETH)-based oracle platform Chainlink (LINK). Van de Poppe suggests he waits to see higher lows before longing for LINK.
“There we go on Chainlink.
I’d like to see a bit more sideways action here before jumping into longs (prefer a higher low).
If so, target $8 again.
Still in range.”
LINK trades for $6.92 at the time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/metamorworks
