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Trader Michael van de Poppe determines a new range to buy Bitcoin (BTC)
Content
- Do not buy at FOMO
- Expect an altcoin rally
Dutch cryptocurrency trader Michael van de Poppe has just said that traders have plenty of dip buying opportunities within a new range that was formed after the BTC price dropped to its intraday low of $ 8,407.
The cartographer advises his followers to buy the blood after the FOMO-driven rally while everyone is “sitting in a panic” in anticipation of lower numbers.
Do not buy at FOMO
Mark Dow, the trader who cut BTC to its current all-time high of $ 20,000 in December 2017, has noted that Lambros was “in full force.”
He wasn’t wrong: Bitcoin’s price rose 20 percent over the span of two days, which even made some skeptics feel euphoric.
Van de Poppe sarcastically congratulated all those who bought the top of that rally above $ 9,400. In the video, he warns merchants not to follow the herd:
“Never buy that. There is always a new test and always a setback. ”
Expect an altcoin rally
Van de Poppe also predicts that altcoins will have their moment to shine as soon as Bitcoin’s volatility cools down.
Bitcoin’s dominance recently increased near its post-2017 highs, which may be explained by the fact that traders were selling alts to FOMO in Bitcoin.
As reported by U.Today, van de Poppe accurately predicted a peak season in the first quarter of 2020.
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