Are Altcoins Doomed? Here’s What’s Next for the Crypto Markets, According to Trader Michaël van de Poppe

Are Altcoins Doomed? Here’s What’s Next for the Crypto Markets, According to Trader Michaël van de Poppe


Crypto analyst and YouTuber Michaël van de Poppe is sharing his altcoin trading strategy as Bitcoin gains ground against the asset class.

After briefly breaking below $32,000 earlier in the week, Bitcoin has since shot back up in value and is trading at $36,226.87 at time of writing, according to CoinGecko.

 

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That bullish move has caused altcoins to lose relative ground to BTC as traders swap their smaller market-cap assets for Bitcoin, Van de Poppe tells his 105,000 YouTube subscribers.

The trader notes that $35,000 is a a very critical level for Bitcoin to hold in order for BTC to continue its momentum upwards. If Bitcoin breaks above the $39,200-$40,800 price zone, Van de Poppe thinks it will begin a new bullish wave. However, he predicts it will first consolidate and test $35,000, then continue its upwards ascent.

Ethereum (ETH) and Cardano (ADA) both had a “healthy corrective move” in their Bitcoin pairs in the wake of BTC’s

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