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A widely followed crypto analyst who forecast Bitcoin (BTC)’s recent slide to sub-$23,000 says he is now bullish on BTC.
Crypto trader Michaël van de Poppe tells his 164,000 YouTube subscribers that now is the time to jump into the market.
“Even though you see all the negativity with Mt.Gox, the Ethereum Shanghai open, and also this case with Silvergate, it’s time to start buying. Dollar-average cost to market. Like you do when the market is bleeding.”
Speaking to his 650,100 followers on Twitter, Van de Poppe repeat I mean two different things take about how traders should view the current market.
“There is a lot of fear in the market.
Just buy and hold on.
Simple…
People were eager to buy crypto two weeks ago.
People are now eager to sell their crypto.
Reverse the psychology.
With $22,440 worth of BTC at the time of writing, trader say he is waiting for the crypto king to get down to this level before buying back.
“Hence why I waited so long to be bought with Bitcoin.
Wanted to see a clear break of $23,800, which we couldn’t get.
Then, waiting for the area at $22,300, which has been reached and filled now.”
Traders are also looking at the Ethereum (ETH)-based Chainlink (LINK) oracle platform. Van de Poppe recommend he waited to see higher lows before missing LINK.
“This is it, Chainlink.
I’d like to see more sideways action here before jumping long (preferably lower).
If so, then target another $8.
Still within reach.”
LINK is trading for $6.92 at the time of writing.
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Disclaimer: Opinions expressed in The Daily Hodl are not investment advice. Investors should exercise due diligence before making high-risk investments in Bitcoins, cryptocurrencies or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrency or digital asset, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock / metamorworks
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