Michael van de Poppe predicted a drop in the popularity of bitcoin

Michael van de Poppe, a well-known cryptocurrency analyst and trader, shared his forecasts for the future of the market and bitcoin in particular. According to the analyst, altcoins will gradually become more profitable assets to buy than Cryptocurrencies. The trader emphasized that everything will happen when no one expects it.

The expert assured that the «ideal moment», based on historical data, will be when the rate of the market flagship reaches a historical high. According to Van de Poppe, during this period, there is great confidence in the markets — people feel safe to invest. It is then that users will invest in digital assets that cost less than bitcoin but seem no less stable.

Michael van de Poppe emphasized that bitcoin is currently the clear market leader. «The value of the US dollar (USD) will fall against the main cryptocurrency. Many altcoins paired with BTC will rise in price even before the flagship digital coin reaches its peak price ,» the analyst explained.

Regarding the current state of affairs on the market, the expert said that the fall of BTC indicates the continued accumulation and consolidation of the main cryptocurrency in the hands of investors. However, Poppe believes that after overcoming this psychologically important level, bitcoin may start another growth cycle.

«Bitcoin's explosive party will begin after the $ 29,700 breakout. Until then, we are still in the consolidation phase. Prevent bitcoin and ethereum from falling, invest all the money you can ,» the analyst said.

Recently, Michael van de Poppe said that traders should not expect a new drop in BTC to $ 12,000 before the next bull rally, as the price of bitcoin is already quite attractive. The analyst compared the first cryptocurrency to the real estate market and stated that buying bitcoin will always be justified.