Cryptocurrency analyst Michaël van de Poppe evaluated various assets in light of the latest developments in the crypto market in his statement today.
According to the analyst, there has only been one other time so far where the Ethereum price has finished three consecutive months in the red zone, and that was at the beginning of the 2018 bear market.
Michaël van de Poppe, however, assessed the probability of Ethereum price rising above $3,000 in September as more than 80%.
Speaking about the OTHERS chart, which is the total market value of altcoins outside the top 10 cryptocurrencies, the analyst said that this chart is currently trending low at the “level of insecurity.”
Speaking about the cryptocurrency market in general, van de Poppe stated that their total market value has seen the bottom of the current correction movement and that the next week or two may be painful before the rebound.
Another crypto analyst, Ali Martinez, also shared his latest views on the market. According to Martinez, the Bitcoin price recently fell below its 200-day simple moving average. According to the analyst, this event can be seen as an opportunity in bullish periods, but a long stay below this level could mean the beginning of a bear market.
*This is not investment advice.