Prominent crypto strategist and trader Michaël van de Poppe says Bitcoin is gearing up for a run to $40,000 as it continues to register new all-time highs.
In a new tweet, Van de Poppe tells his 91,700 followers that BTC can post gains of over 50% as it trades around $27,000.“Bitcoin breaking upwards even more as it’s approaching my second Fibonacci point of interest around $25,800.
The higher we go, the higher the next impulse move will bring us. If $25,800 is this temporary top, next impulse could bring BTC towards $40,000+.”
“Vertical moves often end in a swift correction (remember Summer ’19)? Those swift corrections are made for the establishment of a sideways range. Don’t get chopped out of a correction. The bull market will last for a longer period. Have a longer horizon.”
As for altcoins, Van de Poppe says that it is only a matter of time before market participants rotate their BTC profits into other digital assets. The trader highlights that altcoins are currently establishing a bottom in preparation for a big move early next year.
“I’m expecting altcoins Q1 2021. Bottoming in this period.”
“Zilliqa reached the second target zone for this impulse wave. A run of 300%+ and a very bullish outlook for this one for 2021. Points of interest: $0.035 and $0.048. The next impulse wave will most likely bring a new ATH for this one.”