A widely followed crypto trader is reassuring traders that Bitcoin’s (BTC) current consolidation is simply a dip in the bull market.
Crypto analyst Michaël van de Poppe tells his 679,400 followers on the social media platform X that the market cooling down at the end of the year is to be expected.
“Bitcoin consolidating, altcoins taking a breather at the year’s final days.
Pretty standard de-risking going into the final days of 2023.
Expecting to rally up from Monday onwards.
Simply buy the dips, it’s a bull market.”
BTC is worth $42,122 at time of writing, down 3.6% in the last week.
Massive upward run, it rallied by more than 500% in two months.
Rotation is happening toward ETH and other ecosystems, so probably SOL is done for now.
Higher timeframe trading; interested at $70-80 for long-term entries.”
SOL is trading for $106 at time of writing.
The ecosystems are heating up, and SUI is waking up alongside ARB (Arbitrum) and OP (Optimism).
Looking for the BTC pair here, which is ready to do a beautiful retest at the 0.00001710 area.
If that holds, an uptrend likely starts to 0.00003000 BTC.”
SUI is worth 0.00001919 BTC, or $0.811, at time of writing, up 17.6% in the last week.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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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.
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