A widely followed crypto analyst says that Bitcoin (BTC) is on the brink of a move to the upside.
In a new thread, crypto trader Michaël van de Poppe tells his 763,900 followers on the social media platform X that even though the crypto king looks like it’s on the cusp of an impulsive move, it will likely still be outpaced by altcoins in the Ethereum (ETH) ecosystem.
“Very likely we’ll see a new impulse on Bitcoin in the coming period. However, I think it’s more likely that we’ll see altcoins outperform Bitcoin, especially the ETH ecosystem. Lower yields, weaker dollar, progressive crypto regulation all fueling the market momentum.”
According to the strategist, the current crypto cycle is more “complex” than the last, continuing a trend from the previous cycle. Van de Poppe says his strategy will involve maximizing his risk to altcoins as he believes they are about to break out.
“I think that this bull cycle is more complex than the previous one. Just like 2021 was more complex than 2017, as everything literally kept going up in 2017. That’s why I’ve got a semi-active trading strategy.
For now, I’ll be holding, but I’ll be trading actively on those altcoins making sure that I’m lowering my risk on the way up. At this point: I’d like to be maximally exposed to risk as we’re literally on the start of that upwards move for altcoins.”
The top crypto asset by market cap is trading for $104,699 at time of writing, a 5.1% increase during the last 24 hours.
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