One widely followed crypto analyst believes digital assets are on the precipice of a prosperous new era.
Crypto trader Michaël van de Poppe tells his 718,500 followers on the social media platform X that better times are ahead for the markets.
“This might be the final easy rally to change your life with crypto.
If you have survived this correction and are still here, congratulations.
The coming period is going to be great.”
With Bitcoin (BTC) up 10% in the last week, Van de Poppe says that the $61,000 price zone has become the support for BTC’s next rally.
“Crucial level has flipped for Bitcoin at $60,500-$61,000.
It’s likely that the momentum will continue from here and the trend has switched.
As a response, altcoins are running up substantially as confidence comes back in.”
BTC is worth $67,276 at time of writing, up 2.5% on the day.
As the altcoin markets follow Bitcoin’s lead, the analyst points out one notable exception: the leading altcoin by market cap, Ethereum (ETH).
“Altcoins are waking up already, the only one lacking behind is ETH.
On edge of a reversal here, as the dominance chart is facing a higher timeframe resistance + multiple big events are coming up for Ethereum with the exchange-traded fund and the lawsuits.”
ETH is trading for $3,111 at time of writing, up 5.5% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any 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/3000ad
