Cryptocurrency Analyst Michaël van de Poppe – Bitcoin to Hit $40K as Altcoin Prepare for Rally in Early 2021 December 28, 2020 December 28, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsDecember 28, 2020 by Kelly Cromley

Cryptocurrency Analyst Michaël van de Poppe – Bitcoin to Hit $40K as Altcoin Prepare for Rally in Early 2021

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).

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.”

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.