Michael van de Poppe: Bitcoin’s fall opens up a hoarding zone

Crypto trader Michael van de Poppe called the current bitcoin slump an «opportunity of a lifetime» for investors who are willing to accumulate the asset at low levels. In his opinion, regardless of the reasons for the decline, the current valuation of BTC is extremely low.

He noted that on less than 5% of days in history, bitcoin was cheaper than it is now. Similar situations have already occurred in January 2019 ($ 3 thousand), in March 2020 during the COVID collapse ($ 3.5 thousand), and in December 2022 after the FTX crash ($ 15 thousand). All these periods became the starting point for a multi-year recovery.

Van de Poppe emphasized that talks about the state of the banking and financial system ultimately boil down to bitcoin as an alternative. He believes that the current decline does not mean a further collapse, but rather opens up a chance to buy the asset at a favorable price.

According to him, online data and technical indicators show that bitcoin is currently the most oversold since 2018. The trader emphasizes that the market is in a consolidation phase, which he calls a «waiting game» before a new round of volatility.

Despite the fluctuations and pessimism, van de Poppe is convinced that a favorable zone for long-term investment in bitcoin is being formed, which could be crucial for the future growth cycle.