The Crypto Markets Are Showing Signs of Strength According to Michale van de Poppe
Popular crypto analyst and trader Michale van de Poppe posted an upbeat video today about the state of the crypto markets. He sees signs that we are entering a new bull cycle for Bitcoin and altcoins.
“Bitcoin is swimming around 35k, still yearly high and still looking at continuation and potentially a bullish start of this bull cycle,” said van de Poppe in the video. He believes Bitcoin above $31,000 is a good entry point for long-term investors.
One of the key factors van de Poppe sees driving renewed strength in crypto is the Federal Reserve nearing the end of its rapid interest rate hikes. “We are currently getting towards the end stage of the actual hiking policy,” he said.
The Fed has been aggressively raising rates this year to combat high inflation. But there are signs inflation may be peaking. “Inflation is slowing down at least that is what the FED is projecting,” according to van de Poppe.
As the Fed gets closer to ending rate hikes, van de Poppe believes alternatives like crypto and gold will benefit. As he put it, “Crypto and gold usually do really well when the yields are going to fall.”
Falling bond yields indicate declining interest rates. “If the rates are going to fall, it is going to show a period of strength on other assets,” said van de Poppe.
With economic uncertainty on the rise, van de Poppe thinks cryptocurrencies will regain their appeal as stores of value. “The uncertainties start to rise and you can make a return by having assets that keep their purchasing power,” he said.
In conclusion, van de Poppe stated, “It’s still a buy the dip season for the markets.” He sees Bitcoin reaching new all-time highs “in like 18 months from now.” If his bullish outlook proves accurate, the crypto bear market may finally be coming to an end.
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