A widely followed crypto trader plans Bitcoin (BTC)'s next move while analyzing the altcoin and crypto markets.
Cryptocurrency analyst Michael van de Poppe To tell His 708,700 followers on social media platform know.
“We want the total market capitalization of altcoins to continue.
This means that we would expect a correction to occur, or at least a correction, before a big rally towards ATH. ”
Focusing on a few specific altcoins, analysts say that think Litecoin (LTC), Cosmos (ATOM), and Polkadot (DOT) are on the rise.
“Litecoin is rising, followed by Dinocoin.
We hope that the Ethereum ecosystem including ATOM and DOT will do well. ”
Van de Poppe moves on to the market cap of the entire crypto market, including altcoins, BTC, and ETH. To tell The market may stall briefly before rising again.
“Large-scale trading is taking place in the market in search of the market capitalization of virtual currencies.
Overall, I think it will consolidate before continuing to rise.
It's been good so far this year and will probably continue to be good, but so far it's been steady. ”
Finally, we will focus on the trader King Crypto BTC To tell His followers don't expect Bitcoin to jump to $100,000 anytime soon.
“The scope of Bitcoin is relatively clear.
I don't think we'll suddenly reach $100,000, and for now we're still on a four-year cycle path.
Consolidate the area within the $60,000 support range and take the area near the ATH as resistance.
During the chop. ”
At the time of writing, the value of BTC was $69,440, down 3% in the past 24 hours.
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Featured image: Shutterstock/Tithi Luadthong
