Popular cryptanalyst Michael van de Poppe expressed his point of view regardingHow Bitcoin (BTC) will perform this year.
He tweeted that Bitcoin could be poised for a massive rally in the coming months:
Q1: Lateral movement. Possible temporary bottom.
Q2: Increasing Bitcoin rally to $30,000-35,000 amid a pause in inflation growth/decrease.
Q3/Q4: The beginning of the recession and crisis, the last drop in indices.
2024-2025 massive bull cycle, bitcoin rise to $250,000-300,000.
In the short term, Van de Poppe believes that Bitcoin will rally quickly.
Bitcoin seems ready to continue, but it's always hard to tell how the US will open up tomorrow.
I would be keeping an eye on the $16,600 area if you didn't have the position. Goals - $17000-17100.
Assessing the altcoin market, Van de Poppe noted that it might be time to stockpile cryptoassets other than bitcoin:
All I hear is that altcoins will crash another 50-90%. They can. Definitely. This is a bear market and the longest one for most altcoins -> 19 months.
I would not recommend starting to sell. Save up.
That said, the analyst is bullish on smart contract platform native token Fantom (FTM), which he says could drop slightly before rallying.
I see some prospects here, in the presence of which it is reasonable to assume that we will continue the altcoin rally.
FTM looks especially cool:
– Liquidity is up and above the maximum.
— Retest at $0.2060 — aggressive entry. Conservative - $0.2030.
Resistance at $0.216 eliminated -> $0.25.
News and notes about cryptocurrency and traditional financial markets, politics and technologies in Telegram.