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Analyst: Bitcoin Set to Reach $29K as Altcoins Reach Bottom

Popular Analyst Predicts Bitcoin Will Go Up

• Popular crypto analyst Michaël van de Poppe believes that Bitcoin (BTC) is ready to go up after gaining only 1% in the past seven days.
• Van de Poppe also predicts that altcoins are likely reaching the bottom of a down cycle and suggests shorting Pepe (PEPE).
• He believes reclaiming $27,200 on BTC could be a sign for it to move towards the $29,000 mark.

Bitcoin Reclaims $27,200

Crypto trader Michaël van de Poppe recently tweeted his 656,900 followers telling them it’s time for Bitcoin (BTC) to go up. This prediction is based on BTC reclaiming its price at the $27,200 mark. Van de Poppe further elaborated that if they make a higher low here then we can expect the price of Bitcoin to move towards $29,000.

Altcoin Dominance Chart

In relation to Bitcoin (BTC), Van de Poppe also gave his analysis on the altcoin dominance chart which measures how well all other crypto tokens besides Bitcoin have been performing. The analyst stated that altcoins usually bottom out one year before halving and this time appears to be right now as potential weekly bullish divergences start popping up.

Memecoin Pepe (PEPE)

Van de Poppe then looked into one top memecoin Pepe (PEPE). This cryptocurrency is based off of a controversial meme much like Dogecoin (DOGE) and Shiba Inu (SHIB). The trader suggested shorting PEPE around $0.000000850 unless it reclaims its value at $0.000001625 first.

Takeaways

In conclusion, popular crypto analyst Michaël van de Poppe believes that it’s time for Bitcoin to start going up again after reclaiming its value at $27,200 and he predicts altcoins are reaching their bottom out phase one year before halving takes place soon. He suggests shorting memecoin Pepe at around $0.000000850 unless it reclaims its value at$0.000001625 first as an alternative trading option for investors looking outside of Bitcoin (BTC).