“The markets are heating up, Bitcoin is doing well, and we are still around 35k,” noted crypto expert Michaël van de Poppe in a recent video. With Bitcoin in an uptrend, he believes altcoins are poised for gains.
Van de Poppe said there will still be a lot of bears expecting the markets to correct at the start of a bull market. But he thinks a major correction is not happening at this point.
In the update, van de Poppe talked about emerging opportunities in altcoins as Bitcoin continues to trend up. He recently launched a crypto consultancy and asset management service to help investors build portfolios.
Consultancies and one-on-one assistance require time and effort to build a portfolio, van de Poppe explained. His firm offers several packages tailored to those new to crypto who want to get started.
The portfolios target various risk appetites and have generated returns around 20% since September 1st, he revealed.
Analyzing Bitcoin’s price action, van de Poppe noted they are currently in an uptrend, which he discussed in a previous update. Bitcoin is technically holding previous resistance around $25,000 as support now. It’s making higher highs and higher lows, so he wants to see it hold above $31k.
When looking at high-flying altcoins like Arc, he warned that massive runs are often unsustainable. Investors should focus on key support and resistance levels for better entry points.
Van de Poppe believes Bitcoin is targeting $45,000–50,000 next, which would provide tailwinds for altcoins. He specifically highlighted DeFi protocols like Chainlink, which topped in August 2020 and appear poised for their next cycle peak.
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“It’s also expected that this category is going to start trending to the upside, based on the fact that cycles always happen, and they show a correlation as a self-fulfilling prophecy, which means that I will be betting on historical price action, and therefore I’m betting on Chainlink and DeFi as a whole,” van de Poppe stated.
In conclusion, van de Poppe said newer altcoins could see strong performance with Bitcoin’s uptrend intact. The altcoin market appears poised for the next bull cycle.
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