A widely respected cryptocurrency analyst believes digital assets are in the “first stages” of a bull market.
Crypto trader Michaël van de Poppe told his 729,100 followers on social media platform
“The first stage of the bullish cycle is perceived in two different ways.
- People are stuck in a bear market mentality.
- Price action is weak and slow.
That is the current stage. Prices are rising, but not that high. What does it mean? Buy dips and hold altcoins.”
Next, the analyst says Solana (SOL) rival Sui (SUI) could head back to $1.85 before another major breakout.
“SUI ran away and hit new all-time highs. first! I wasn’t allowed in, but it might be for the best now. For the same area or entry area, look at $1.85. A tremendous runner.”
SUI is trading at $1.86 at the time of this writing and is down nearly 6% in the last 24 hours.
Finally, the analyst said Bitcoin (BTC) could fall into the $50,000 range on Wednesday as the major cryptocurrency suddenly corrected towards the $60,000 level.
“Bitcoin continues to fall, which means we are likely to face a further test lower. I expected this level to hold, but with negative FUD (fear, uncertainty, doubt) influencing the correction, we are likely to hit below $59,500 and reverse from there. “The water is still slow.”
As of this writing, Bitcoin is trading at $60,671, down 2.2% in the last 24 hours.
Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox
Check Price Action
follow us XFacebook, Telegram
Daily Hodl Mix Surfing
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
Image created by: Midjourney