Altcoins
Is the fall of Bitcoin over? Top Crypto Analyst Says “Altcoins Will Take Over Until…” – TradingView News
Popular crypto analyst Michael van de Poppe planned an extended recovery period for Bitcoin while anticipating an increase in the performance of the altcoin.
What happened: Van de Poppe, in a recent post on social media platform X, suggested that Bitcoin recovery could be a long process.
He wrote: “It’s going to take time for #Bitcoin. However, most of the drawbacks are resolved. There could be another 5-10% correction, but from there altcoins will take over until Bitcoin hits the all-time high.
It will take time to #Bitcoin.
However, most of the drawbacks are resolved.
There could be another 5-10% correction, but from there altcoins will take over until Bitcoin hits the all-time high. pic.twitter.com/sejObsUuzz
See also: Should Dogecoin and Shiba Inu Rebound? This trader sees a “bull flag” forming for a coin
Why is this important: This forecast comes at a time when the cryptocurrency market is experiencing significant turbulence. Just a day before, another analyst, Ali Martinezhad suggested a potential increase of 99% in the value of Bitcoin, based on historical data, and advised investors to buy the dip.
Despite Recent Market Volatility, Bitcoin Continued to Outperform other asset classesas the economist points out Mohamed El-Erian.
However, not all analysts are so optimistic about the future of Bitcoin. Renowned economist and golden bull Pierre Schiff recently identified a bearish technical trend in Bitcoin’s chart, suggesting that the ongoing sell-off may continue.
Price action: Bitcoin is currently trading at $57,726, down 0.93% over the past 24 hours. However, it has jumped 30.69% since the start of the year, according to data from Benzinga Pro.
Read Next: Shiba Inu Burn Rate Skyrockets, Cathie Wood Thinks Ethereum Could Catch Up to Bitcoin and More: Top Crypto Updates This Week
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