Top Crypto Analyst Says Bitcoin and XRP Facing Significant Correction – Here’s When Altseason Could Kick-Off

   2020-12-02 10:12

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December 2nd 2020



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December 2nd 2020

Crypto analyst and trader Michaël van de Poppe says Bitcoin is likely to go through a significant correction before its next big rally can begin.

The strategist tells his 87,000 Twitter followers that BTC may retrace as much as 26% from its current levels in the weeks ahead. After that, he expects a fresh altcoin boom to begin.

“Congratulations to the majority of crypto twitter, you are finally break even on your position. It has been a hard three years… Very cool what’s happening today and funny is that it’s still just the beginning of this new cycle.

I still believe BTC is due for a correction… One more correction towards $16,000 or $14,000 and then the real altseason and party can start.”

Van de Poppe is closely watching XRP to see where the third-largest cryptocurrency may head next.

He says XRP needs to hold onto the $0.635 level in order to prevent a big move to the downside.

“We see that we’ve had a very massive move upwards from $0.20 towards even $0.80 on several exchanges. We did make a nice break through which we can define two support levels on the daily time frame, which is around $0.30 and around $0.45…

We can see we are trying to break the resistance area here. However, if we want to sustain support, we have to hold above $0.635. If that sustains we might be continuing toward a new high, which might be $1.00. Losing $0.635 and the markets should be watching $0.45 to $0.47 as a new support zone.”

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XRP vi.be Editor

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin32,190 2.44 % 7.67 % 14.06 %
Ethereum1,232.7 1.63 % 5.73 % 8.89 %
Tether0.9986 0.28 % 0.20 % 0.50 %
Polkadot16.21 1.83 % 5.59 % 47.03 %
XRP0.2834 0.56 % 1.67 % 7.52 %
Cardano0.3378 2.08 % 2.85 % 8.48 %
Litecoin132.99 1.76 % 9.46 % 9.85 %
Bitcoin Cash448.62 1.91 % 8.68 % 9.69 %
Chainlink19.41 1.53 % 3.34 % 21.62 %
Stellar0.2704 1.88 % 4.98 % 11.05 %
Binance Coin39.80 1.64 % 3.21 % 1.05 %
USD Coin1.000 0.40 % 0.14 % 0.10 %
Wrapped Bitcoin32,315 2.42 % 7.02 % 13.47 %
Bitcoin SV186.04 2.26 % 5.42 % 12.59 %
Monero140.22 2.12 % 7.06 % 18.52 %
EOS2.620 1.84 % 4.39 % 5.85 %
TRON0.02855 2.03 % 4.52 % 5.34 %
Aave167.72 1.40 % 7.65 % 13.64 %
VeChain0.03105 1.64 % 0.52 % 18.85 %
NEM0.2194 1.24 % 4.08 % 4.12 %