Widely followed analyst Michaël van de Poppe says he believes that the bear cycle low is in for the crypto markets.
Van de Poppe tells his 618,600 Twitter followers that the total market capitalization of all crypto assets managed to bounced just above a key bottom indicator.
“The most important chart isn’t Bitcoin. It’s the total market capitalization for crypto (TOTAL). Never closed beneath 200-week moving average in the recent crash and curling back up. This would mean that we’ve seen the low. The most likely scenario is a continuation towards $1.25 trillion.”
Source: Van de Poppe/Twitter
At time of writing, the total market cap of all crypto assets stands at slightly above $1 trillion while the 200-week moving average of the TOTAL chart is