• Crypto analyst Michaël van de Poppe suggests that Ethereum’s current price dip could have something to do with Bitcoin’s upcoming halving.
• He believes Bitcoin is likely to follow the trend of commodities like Silver and Gold, and is a potential buyer if BTC falls back to $24,000-25,000.
• Van de Poppe recommends new coins such as ARB/OP/INJ/SUI and memecoins such as PEPE/DOGE as potential investments.
Ethereum Price Dip Linked to Bitcoin Halving
Crypto trader Michaël van de Poppe suggests that Ethereum (ETH)’s current price dip might have something to do with Bitcoin (BTC)’s upcoming halving. He notes that in 2019, ETH dipped towards the cycle low 8 months prior to the Bitcoin halving and this may be happening again now in 2023. ETH is currently worth $1,644 at time of writing – down 7.6% in the last week.
Bitcoin Follows Commodities Trend
Van de Poppe states that Silver and Gold are showing massive strength after terrible PMI (Purchasing Managers’ Index) rates, and yields seem to top out which could indicate that BTC will follow suit. He provides a chart illustrating how BTC moves alongside commodities, saying it’s only a matter of time before BTC runs back up to $30,000 – but he is a final buyer before the bull if there’s another sweep of the lows at $24,000-25,000. At time of writing BTC is trading for $26,042 – down 8% over the last seven days.
Top Altcoin Picks for Investors
The analyst has identified several altcoins he thinks could outperform slumping markets during this period comparable to 2020; newer coins such as ARB / OP / INJ / SUI and memecoins such as PEPE / DOGE are his top picks for investors looking for potentially profitable investments.
History Repeating Itself?
Van de Poppe believes history may be repeating itself when it comes to ETH prices dipping prior to BTC halvings and suggests investors should keep an eye on both commodities trends as well as certain categories of altcoins which could outperform during this period.
In conclusion, crypto trader Michaël van de Poppe has done an analysis on Ethereum (ETH) and Bitcoin (BTC), suggesting that ETH’s current price dip could be linked with BTC’s upcoming halving while also naming specific altcoins he believes could perform well during this period comparable to 2020 – newer coins such as ARB / OP / INJ / SUI and memecoins such as PEPE / DOGE being some of his top recommendations for investors looking for potentially profitable investments.