Altcoins Ready To Grow 25-30%, Draws Key Levels For BTC – Fintechs.fi
According to Michaël van de Poppe, a leading crypto market analyst, altcoin market looks ready to grow, but Bitcoin (BTC) must reclaim $38,000 level.
Altcoin market
The analyst shared with his 592.6K followers on Twitter followers that the altcoin market cap will make a healthy jump in the months ahead.
“Seems likely to me that the altcoin market capitalization is going to grow approx. 25-35% in the coming month as crucial support holds.”
At the moment the altcoin market cap of approximately $1 trillion. According to van de Poppe prediction the altcoin market cap would rise to somewhere between $1.25 trillion and $1.35 towards Q4 this year.
Bitcoin (BTC)
Looking into Bitcoin, the analyst tweeted that as long as BTC trades above $38,000, it would continue to move upwards.
“Bitcoin looking at a HL (higher low) in which I’d preferably looking at a potential long.
As long as we stay above $38,000, everything looks fine for further continuation.”
Since the tweet, Bitcoin has fallen below $38K and the analyst posted an update, saying:
“Well, that’s dropping fast here and now the liquidity beneath the lows have been taken by the Bitcoin price action.
Level that has to be reclaimed is the zone at $37,500, as that’s the previous support zone.”
At the time of writing, BTC trades at $36,350, down 8.3% on the daily chart.
