A prominent cryptocurrency analyst shared his bullish views on Bitcoin and the crypto market in general.
Michaël van de Poppe, who has more than 650,000 followers on Twitter, posted a series of tweets on July 1, highlighting positive indicators for BTC and the cryptocurrency market total market cap.
According to Van de Poppe, Bitcoin dominance is reaching a level that was last seen in 2019, before the halving event that increased the price of Bitcoin. He expects Bitcoin dominance to meet resistance in the next four to six weeks, then decline, causing altcoins to rally.
He also stated that the total market cap of the cryptocurrency market is hovering above the 200-week moving average (MA) and exponential moving average (EMA), which are key support levels. Van de Poppe predicted that the crypto aggregate market cap would continue to rise and hit a new high of $1.6 trillion, surpassing the previous record of $1.4 trillion in May.
In addition, commenting on the altcoin Arbitrum (ARB), the analyst said that the $1.30 level on the upside is of great importance.
*Not investment advice.