A widely followed crypto analyst thinks the world is finally starting to wake up to the importance of crypto assets.
Crypto trader Michaël van de Poppe tells his 660,100 Twitter followers that with Europe preparing to launch Bitcoin (BTC) exchange-traded fund (ETF) later this month, the world is coming around to crypto.
“Bitcoin ETF in Europe set to launch this month.
Not only the US is ramping up, but also, finally, we’ll be getting one in Europe.
More and more we’re waking up with Crypto.”
Diving deeper into the king crypto, Van de Poppe says BTC could pop up to $38,000.
“Bitcoin holds $30,200 and most likely will start looking at range high again.
Another test and we’ll have a swift breakout to $38,000.”
While admitting that BTC could potentially fall below $30,000 temporarily, the trader thinks BTC is about “fly” to range highs, bringing altcoins like Litecoin (LTC) up with it.
“Bitcoin ready to break upwards.
Back to support, all liquidity taken (and fairly said, if we drop sub $30,000, we’ll crack towards $29,300 but that seems an overcrowded trade.)
Back above $30,500 and we’ll fly to range highs and things like LTC should take off.”
BTC is trading for $30,827 at time of writing, up 1.4% in the last seven days.
Taking a look at LTC, the crypto strategist thinks Litecoin is inevitably on its way up.
“Markets are reversing.
Let’s continue on Litecoin.”
LTC is worth $101.58 at time of writing, up 6.4% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/WindAwake