A widely followed crypto analyst is updating his outlook on Bitcoin (BTC) and the altcoin markets after a huge week of gains for the king crypto.
Crypto trader Michaël van de Poppe tells his 658,100 Twitter followers that with Bitcoin dominance (BTC.D) increasing rapidly, it will likely reach a consolidation point, soon, which is good for altcoins.
“Bitcoin dominance approaching next point of resistance, while Bitcoin reaches the next point of resistance as well.
Probably Bitcoin will start to consolidate, so Altcoins have some period of relief approaching and can pick up pace.”
Source: Michaël van de Poppe/Twitter
BTC.D is a measure of the percentage of the total cryptocurrency market capitalization that is made up of Bitcoin.
BTC is worth $29,757 at time of writing, up 19% in the last week.
After such a week of gains, Van de Poppe expects BTC to reach a consolidation point sometime soon.
“Still the thesis for Bitcoin. 
I’m expecting we’ll consolidate a little bit (whet

Czytaj więcej

We współpracy z: https://dailyhodl.com/2023/06/22/analyst-updates-outlook-on-exploding-bitcoin-price-says-altcoin-markets-facing-a-depression/