Crypto analyst Michaël van de Poppe recently took to Twitter to advise his 648,200 followers on how to approach the crypto market amid recent regulatory concerns from the U.S. Securities and Exchange Commission (SEC). Van de Poppe believes that the SEC’s recent crackdowns represent a huge hit on crypto, but traders should trade Bitcoin (BTC) based on price, not context.
“The SEC regulatory discussions are something to keep an eye on. However, the ecosystem will only become stronger out of this entire thing. We’ve just had the largest attack on crypto in 2022 and since FTX price rallied more than 40% for Bitcoin. Erase context, trade price.”
Focusing specifically on king crypto Bitcoin, Van de Poppe expects some minor dips for BTC before it takes off. He suggests that if traders want to get an entry, they should look at a case at $22,300 for longs. He believes that BTC will continue its upwards trend from here, and that buying the dips is the best way to go.
At the time of writing, Bitcoin is worth $24,822, and it appears to already be on Van de Poppe’s predicted upward trend. The trader expects BTC to continue trending up, and predicts Bitcoin will jump by upwards of $10,000 soon.
“Corrections are relatively short-lived in an upwards trending market. Higher timeframe levels get one test and then markets start to shoot upwards, as people over short the correction. Breaking $25,000 and we’ll continue towards $30,000-35,000 for Bitcoin.”
Van de Poppe also breaks down the trending Ethereum (ETH) rival Fantom (FTM). He states that FTM has seen a 40% bounce from the desired level. He expects that the market will stabilize for a bit, and suggests that traders should be interested in FTM at $0.47 and $0.52 before they start to continue rallying.
At the time of writing, FTM is trading for $0.58, up nearly 7% over the last 24 hours.
In conclusion, Van de Poppe’s advice to “erase context, trade price” appears to be paying off. Despite the recent regulatory concerns from the SEC, the crypto ecosystem is only becoming stronger. Bitcoin is already on its predicted upward trend, and Van de Poppe expects it to continue, with BTC jumping by upwards of $10,000 soon. He also believes that FTM will stabilize for a bit before continuing its rally, and suggests that traders should be interested in FTM at $0.47 and $0.52.
Overall, it appears that Van de Poppe’s advice is sound, and traders should keep an eye on the markets to take advantage of any dips. The crypto market is ever-evolving, and it is important for traders to stay up to date with the latest news and developments in order to make informed decisions.