Closely-Followed Analyst Says Crypto Markets Near End of Downtrend, Predicts Bounce for Bitcoin (BTC)

near downtrend bounce

Popular digital asset analyst Michaël van de Poppe thinks traders have “massive opportunities everywhere” amid this crypto market downturn.

Van de Poppe tells his 595,600 Twitter followers that Bitcoin (BTC) could already be nearing the end of its bearish slump.

“The more I’m starting to see targets like $8,000 or $12,000 for Bitcoin, the more convinced I am we’re getting into the end stages of this downwards run. It’s actually capitulation already.”

The analyst also highlights the $34,000 region as a key question for Bitcoin to answer.

“This is still the question for Bitcoin here.”

Source: CryptoMichNL/Twitter

Bitcoin is trading for $30,893.19 at time of writing, almost even over the last 24 hours.

Van de Poppe thinks altcoins will be in a bear market for a year. Still, he says big opportunities exist for traders.

“People don’t want to see that it’s a tremendous opportunity at this point. No, people are busy shouting that we’re going down even more and people are convinced we will. Maybe, we can. Definitely. But the upside is fucking crazy. I’d almost sell a kidney with those prices.”

The analyst argues that one of those opportunities is the decentralized oracle network Chainlink (LINK).

“Level hit for Chainlink.

Massive opportunities everywhere.”

Source: CryptoMichNL/Twitter

LINK is trading at $8.57 at time of writing, up nearly 2.5% in the past 24 hours.

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Featured Image: Shutterstock/Meranna/Andy Chipus

The post Closely-Followed Analyst Says Crypto Markets Near End of Downtrend, Predicts Bounce for Bitcoin (BTC) appeared first on BitcoinLinux.