A well-known Dutch crypto analyst sees opportunities after the largest cryptocurrency suffered the biggest crash ever. While the market is still in extreme fear, there could actually be a lot of upside potential from here.
Entry options according to analyst
On social media platform X, Dutch crypto analyst Michaël van de Poppe shared his view on the current situation of Bitcoin (BTC). For example, he found from data from data platform Coinglass that the recent crash of the cryptocurrency was the worst in its history.
Despite the hard rejection at $70,000, the analyst sees a lot of upside potential from the current level, but he is keeping a wary eye on any further declines. However, if the latter were to happen, he expects this correction to remain below 15 percent.
Concluding his X-post, Van de Poppe addresses the trader who still wants to time the precise bottom of the declining trend and then buy in again. Such timing is always difficult to execute properly and the analyst knows that. That’s why he advises this group of investors to reconsider their tactics.
Tom Lee thinks BTC can rise again
Van de Poppe is not the only one who thinks that a Bitcoin bottom is in sight. Crypto analyst “That Martini Guy” shared on X a clip from the chairman of the largest Ethereum reserve company Bitmine, Tom Lee. He was a guest on the American news medium CNBC and made the statement that Bitcoin may have reached its bottom.
In the conversation, Lee refers to the words of Tom Demark, who functions as an advisor at Bitmine. He is said to have already predicted in November that the largest cryptocurrency would fall to around $77,000.
According to him, several factors, such as increased trading activity and Wall Street companies increasingly investing in crypto, would currently indicate that the bottom has now really been reached.
Despite the positive words, there is still a lot of fear in the crypto market. According to the “Fear and Greed Index”, which currently shows a score of 10, the market is said to be in “extreme fear”. The last time the indicator gave a neutral rating was at the end of last month.
Source: https://newsbit.nl/nederlandse-crypto-analist-ziet-koopkansen-na-grootste-bitcoin-crash-ooit/
