A widely followed crypto analyst who predicted Bitcoin’s (BTC) recent drop to sub-$23,000 levels says he’s now bullish on BTC.
Crypto trader Michaël van de Poppe tells his 164,000 YouTube subscribers that now is the time to hop into the markets.
“Although you see all the negativity with Mt. Gox, Ethereum Shanghai unlocks, and also this case with Silvergate, it is time to start buying. Dollar-cost average into the markets. As you do when the markets are bloody as hell.”
Speaking to his 650,100 Twitter followers, Van de Poppe reiterates his point with two different takes on how traders should view the current markets.
“Tons of fear in the markets.
Just buy and hold.
People were so eager to buy into crypto two weeks ago.
People are now so eager to sell their crypto.
Reverse that psychology.”
With BTC worth $22,440 at time of writing, the trader says he was waiting for the king crypto to drop to this level before buying back in.
“Hence why I was waiting for longs to be bought on Bitcoin.
Wanted to see a clear break of $23,800, which we couldn’t get.
Then, waiting for the area at $22,300, which is hit and filled now.”
The trader also looks at the Ethereum (ETH)-based oracle platform Chainlink (LINK). Van de Poppe suggests he is waiting to see higher lows before longing on LINK.
“There we go on Chainlink.
I’d like to see bit more of sideways action here before jumping into longs (preferred a higher low).
If that’s the case, then targeting $8 again.
Still in the range.”
LINK is trading for $6.92 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/ metamorworks