Michael van de Poppe, an analyst at Van de Poppe & Associates in London, says Bitcoin’s bear phase is over. He points to higher lows as well as a strengthening of the technical structure on multiple timeframes.
Van de Poppe claims that BTC consistently prints higher lows. This indicates sustained upward momentum for Bitcoin.
The commodities upswing is over. Bitcoin’s bear phase is over. The future is bright…
This range has been established for quite some years. With this buildup I believe that in March we will see between $75,000 and 80,000 .”
Van de Poppe points out that the BTC/gold chart is also a confirmation.
BTC has reached its lowest point. It is simple technical reason. It has nothing to do any geopolitical situation. It’s all technical. The daily and weekly timeframes have a bullish divergence .”
The market’s shock over the US-Israeli attack on Iran, he believes, has also largely subsided.
Yes, it is possible to have a war on the ground in Iran. However, this has not been achieved yet.
There are a lot rumours about ‘what could happen’ and they’re all based on fear. The reality is likely not to be as bad. Fear is a big seller during this period.
I believe that smart investors will continue to sell off their Gold and Silver holdings and move towards stocks and Bitcoin.”
Bitcoin’s price is currently $68,291, down by 3.7% over the past 24 hours.
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As new information becomes available, this post “Good Times Ahead” – Michael van de Poppe says the Bitcoin Bear Phase is over – Here are His Targets could be updated.
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