Michaël van de Poppe, a popular Dutch analyst, decided early in the year to sell all his Bitcoin for altcoins. To date, that decision has been dramatic, but now he is starting to become very bullish on Ethereum. Do we see the beginning of an altseason developing here?
Heel bullish over Ethereum
According to Van de Poppe, Ethereum currently appears to be preparing for a gigantic breakout compared to Bitcoin.
He sees a major bullish divergence for Ethereum, and notes that the entire ETH ecosystem is currently performing fantastically.
A bullish divergence occurs when the price of a financial asset makes lower lows, while indicators such as the Relative Strength Index (RSI), a momentum indicator, makes higher lows.
In a subsequent update, the analyst notes that ETH/BTC is starting to rise, and that it appears that investors are taking their profits on Bitcoin and then transferring them to Ethereum.
Rotation to Ethereum started?
In the past, all bull markets have been marked by a moment when they “rotated” from Bitcoin to smaller coins like Ethereum.
Many investors still hope for this, because large profits have been achieved in the past.
“This is it. The markets are rotating as ETH takes a big leap upward. The next step? Create a higher low and then we are in a good position for further upward momentum. DeFi is already starting to explode. These are good times!” said Van de Poppe.
He also believes that the US central bank’s interest rate cut, which they implemented yesterday, will be bullish for Bitcoin and other crypto assets.
For the Bitcoin price, he even foresees a continuation of the bullish momentum to 90,000 to 100,000 dollars.
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Source: https://newsbit.nl/nederlandse-topanalist-is-extreem-bullish-over-ethereum/
