A popular crypto analyst recommends Bitcoin (BTC)– Merchants a method to buy their ticket to the moon.
Crypto trader Michaël van de Poppe is urging his 627,700 Twitter followers to start collecting BTC by next year.
“People are literally waiting for it;
So, now bitcoin moon or demise?
We simply cannot say so quickly after such an event; it takes some time.
Markets are pricing in the worst, but I’m just saying now through 2023 is the period to accumulate.”
With bitcoin trading at $18,950 at the time of writing, Van de Poppe claims that the crypto king needs to reclaim $19,000 to keep the bullish momentum going.
“Bitcoin literally did a fake at the FOMC [Federal Open Market Committee] Event.
I’m not sure if we’re already seeing the trend. Probably the direction will come today/tomorrow.
Right now, Bitcoin needs to reclaim $19,000 to be bullish.”
The trader expresses that he would rather go long BTC and the broader crypto markets here than wait for a potential lower drop.
“I would still rather be here long in the crypto markets than wait for $12k-14k.”
Given yesterday’s 75bps rate hike, Van de Poppe says crypto markets are reacting positively to crypto, particularly the US dollarindex (DXY).
“Very good response from the markets.
DXY falls down.
Yields are falling a little.
The DXY is a relative measure of US Dollar strength. A weaker DXY is generally better for crypto assets.
Looking at his DXY chart, Van de Poppe sees bearish divergences “everywhere”.
“Bearish divergences all over the chart for DXY.”
Featured image: Shutterstock/Mia Stendal
Source: Crypto News Deutsch