Bitcoin Price To Face Rejection Claims Van De Poppe – Updates His Target For Ethereum & Other Altcoins

The post Bitcoin Price To Face Rejection Claims Van De Poppe – Updates His Target For Ethereum & Other Altcoins appeared first on Coinpedia Fintech News

The cryptocurrency market is flashing mixed signals since morning as the first two largest cryptocurrencies, Bitcoin and Ethereum are facing a downfall along with a few large cap currencies. However, a few altcoins like BNB, Tether, Cardano are enjoying their bull run.

However, a closely followed crypto analyst and strategist, Michael van de Poppe is forecasting a mixed target for Bitcoin (BTC) and Ethereum (ETH)

While addressing his 646,700 Twitter followers, the analyst claims that the current trade levels of Bitcoin and Ethereum are short-term. This is because once Bitcoin hits a target above $200,000, Ethereum will see its accumulation around the globe

Fun thing is, in a few years from now we’ll be laughing at the current valuations.#Bitcoin at $200K or more, #Ethereum being adopted everywhere.

We’re on the start of such a massive cycle.

— Michaël van de Poppe (@CryptoMichNL) January 26, 2023

Ethereum At $1,600 Soon

As he discusses Ethereum, Van de Poppe predicts that the lead altcoin will claim an upward journey between $1,450 and $1,600 area.

#Ethereum still on a crucial support. If we bounce, then I’d be interested aroudn $1,600 for shorts.

Longs probably at $1,450.

— Michaël van de Poppe (@CryptoMichNL) January 25, 2023

At the time of writing, Ethereum is changing hands at $1,581 after a fall of 1.45% in the last one day.

Bitcoin To Face Rejection

Then in terms of Bitcoin’s price action the trader claims no interest in keeping longs as he believes that BTC will face a rejection at $23,600 area. He is of the opinion that BTC will face lower price levels in the days to come.

#Bitcoin breaks upwards and tests that level at $23.6K, to immediately reject.

Question today will be whether GDP will push price towards new highs again or we’ll go sub $22.9K, which means lower prices to come.

Not much interested in longs here.

— Michaël van de Poppe (@CryptoMichNL) January 26, 2023

At present, Bitcoin is valued at $22,947 with a slight surge of 0.13% over the last 24hrs.

FTM, MATIC & APT On A Bull Run

Lastly, before Van de Poppe winds up his analysis he talks about Fantom (FTM) and Polygon (MATIC) which are currently on a massive bull run. As per the analyst, traders and investors are flocking towards APT, FTM and MATIC with their increasing bullish momentum.

At the time of reporting, FTM is selling at $0.459 with a surge of 5.92% from the previous day. While MATIC has gained 8.36% and APT has lost 2.77% in the last 24hrs and is now trading at $1.08 and $17.63 respectively.

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