A widely followed crypto analyst is cautioning traders against worrying about Bitcoin’s (BTC) nearly 5% dip in the last 24 hours.
Crypto analyst Michaël van de Poppe tells his 702,300 followers on the social media platform X that market corrections can be seen as opportunities for traders.
“Bitcoin down 7-8% overnight.
Altcoins have followed in this correction and markets are taking a breather.
I think we’re likely close to the pre-halving peak.
The corrections remain here as opportunities, through which altcoins are likely to follow Bitcoin to an all-time high.”
Van de Poppe goes on to say that, from the technical view of things, BTC’s dip is expected.
“From a technical standpoint for Bitcoin;
– Lower volumes on the upward grind
– Combined with a bearish divergence
Valid correction happening, which is normal.
The chances of the pre-halving peak to be finished are there.
Ultimately, Altcoins to rally on the horizon.”
Furthermore, the analyst reiterates his point that traders can view dips as opportunities to jump into the markets.
“I mentioned it a few times, but you don’t chase green candles in the markets.
You are eager for days like today. Eager to hunt the corrections, because that’s when you’re getting your edge.
Altcoins down 10-15%? All right, let’s scale in some.”
Finally, Van de Poppe says traders should have no fear about BTC’s pullback.
“Don’t be afraid, we’re at the start of a bull cycle.
Enjoy the dips.”
BTC is worth $68,353 at time of writing, down 4.7% in the last 24 hours.
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Source:
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