A widely followed crypto analyst is recommending one method for Bitcoin (BTC) traders to buy their ticket to the moon.
Crypto trader Michaël van de Poppe tells his 627,700 Twitter followers to accumulate BTC until next year.
“People are literally waiting for;
So, now Bitcoin moon or doom?
We simply can’t tell so fast after such an event; it requires some time.
Markets are pricing in the worst, but all I say is that now until 2023 is the period to accumulate.”
With Bitcoin trading at $18,950 at time of writing, Van de Poppe claims the king crypto must reclaim $19,000 to maintain bullish momentum.
“Bitcoin literally has been making a fake-out at the FOMC [Federal Open Market Committee] event.
I’m not sure whether we’re already seeing the trend. Probably direction will come today/tomorrow.
For now, Bitcoin needs to reclaim $19,000 in order to have any bullishness.”
The trader expresses that he’d rather go long on BTC and the general crypto markets here versus waiting for a potential lower drop.
“I’d still preferably want to be long on the markets of crypto here rather than waiting for $12,000-14,000.”
In light of yesterday’s 75 basis points interest rate hike, Van de Poppe says the crypto markets are reacting favorably for crypto, especially the US Dollar Index (DXY).
“Very good reaction on the markets.
DXY tumbling down.
Yields tumbling down a bit.
The DXY is a relative measure of the US dollar’s strength. A weaker DXY is generally better for crypto assets.
Looking at his DXY chart, Van de Poppe sees bearish divergences “everywhere.”
“Bearish divergences everywhere on the chart for DXY.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Mia Stendal