The Bitcoin price fell by thousands of dollars towards the end of this trading week from $73,800 to a low of approximately $65,500. The price has now risen somewhat again and according to the popular Dutch analyst Michaël van de Poppe, we should not worry about anything.
Corrections he sees currently as opportunities and very normal at this point in the cycle.
Pre-halving peak reached?
According to Van de Poppe, we may have reached the pre-halving peak for Bitcoin. “From a technical perspective for Bitcoin, we see lower volumes on the price rises, combined with a bearish divergence. This is a valid correction, which is normal.
There is a chance that the pre-halving peak has been reached.
Furthermore, the Dutch analyst emphasizes that he believes the dips we are currently seeing are an opportunity to jump into the market.
“I’ve said it a few times, but you shouldn’t chase green candles in the markets. You just have to wait for days like today. Days when you can buy the corrections, because that is where you get your edge.
Altcoins are down 10 to 15 percent? Okay, let’s do some shopping,” said Van de Poppe. Now it will be especially interesting to see whether the market can recover during the weekend. That seems to be happening, but after a correction it is important not to cheer too early when we start to climb again.
‘Don’t be afraid of corrections’
Finally, Van de Poppe shares that he believes investors should not be afraid of corrections.
“Do not be afraid. We are at the beginning of a bull market. Enjoy the corrections,” the analyst said. Enjoying it is often difficult, even if deep down you understand that it is an opportunity to buy something cheaper.
That does not alter the fact that it is difficult to see your assets drop by 8 percent in one day. Of course, there are nicer things to enjoy in life. In the past, however, the strategy that Van de Poppe promotes has produced the best results.
Unfortunately, this offers no guarantees for the future, but of course there are never any guarantees in the financial world. What do you think? Is Van de Poppe right and has this been a moment to buy the dip or will you wait until we are a bit higher again?
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Source: https://newsbit.nl/michael-van-de-poppe-koersdaling-bitcoin-is-een-kans-voor-investeerders/
