A popular cryptocurrency analyst shared his opinion with his 662,000 followers on Twitter about the imminent growth in the value of bitcoin. The expert tried to pick up a vivid image of the upcoming phenomenon.
Michael van de Poppe said that the fall of BTC below $29,700 indicates continued accumulation and consolidation of the first cryptocurrency in the hands of investors. However, the analyst believes that after overcoming this psychologically important level, Bitcoin may well begin another growth cycle. And there are reasons for this:
“Bitcoin’s explosion party will start after the $29,700 breakout. Until then, we are still in the consolidation phase. Exchange-traded funds will be launched soon, and this will be a big event that will move the market. Buy back the fall of bitcoin and ether with all the money you can invest.”
Recently, Michael van de Popp said that traders should not expect BTC to fall again to $12,000 before the next bullish rally – now the price of bitcoin is already attractive enough. The analyst compared the first cryptocurrency with the real estate market and said that buying bitcoins will always be justified.
