While the correction in the leading cryptocurrency Bitcoin and altcoins makes all investors nervous, it is wondered whether the decline will continue.
While analysts think that the decline in BTC may deepen further towards $ 30,000 levels, some think that the rise will start from approximately current levels.
At this point, successful analyst Michael van de Poppe is among those who think that the correction in BTC is ending.
Stating that the correction in Bitcoin is approaching its final stages, the analyst said that volatility has now decreased.
Poppe argued that BTC will not fall below the $ 36,000 – $ 39,000 level and stated that upward momentum is likely to come as we are approaching the halving event.
“Bitcoin is approaching the final stages of this correction.
We see volatility decreasing from here as markets witnessed a 20% correction in 10 days.
The bottom for BTC is still $36,000-$39,000 and the bullish momentum towards the halving is likely to come from there.”
#Bitcoin is getting toward the final stages of this correction.
We're seeing volatility decrease from here, as the markets have witnessed a 20% correction in 10 days.
The range-low is still $36-39K, and upward momentum to the halving is likely from here. pic.twitter.com/2i5WzczD1a
— Michaël van de Poppe (@CryptoMichNL) January 25, 2024
Ethereum May Rise in a Few Weeks!
Evaluating Ethereum as well as Bitcoin, Poppe stated that ETH will rise within a few weeks.
The analyst noted that ETF excitement and upgrades were among the bullish catalysts in ETH, saying:
“The bullish momentum for Ethereum will likely come in the next few weeks.
Arguments:
Bitcoin is about to hit the bottom and this is a trigger for altcoins to start a new rise.
Spot ETF excitement for Ethereum.
Ethereum launches new upgrades to reduce 90% of costs.”
The momentum towards $ETH is probably going to come in the next few weeks.
Arguments:
– #Bitcoin bottoming out is a trigger for altcoins to make a new run.
– Ethereum Spot ETF hype.
– Ethereum launching new upgrades to reduce 90% of the costs. pic.twitter.com/N8bDi52F8M— Michaël van de Poppe (@CryptoMichNL) January 25, 2024
*This is not investment advice.
