Will Bitcoin Trade Below $20K Till 2022 End? Analyst Advice To Accumulate BTC Up to 2023
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One of the most popular crypto analysts and traders has prepared an analysis of Bitcoin (BTC) and advice for his traders.
Analyst Michael van de Poppe is asking his 627,700 fans on Twitter to start hoarding Bitcoin until 2023.
Traders are waiting for the rise or fall of Bitcoin, but the analyst believes that nothing can be said now because the general market situation is not good. However, he asks everyone to collect BTC until 2023.
The price of Bitcoin maintains above $19,000
At the time of reporting, Bitcoin was priced at $19,399 and has risen 3.45% in the last 24 hours. Now that the royalties have reached the $19,000 level, Van de Poppe argues that the currency should maintain this level to see a bull run.
He claims that Bitcoin's price action is quite confusing with the FOMC event, and even he is not sure which way the currency will move. However, he claims that we will see the right direction soon, but for that, BTC should maintain its price action above the $19,000 area.
Additionally, the strategist says that instead of waiting for the price to drop to $12,000 or $14,000, he is going long Bitcoin (BTC) and other cryptocurrencies.
Finally, he talks about the latest rate hike of 75 bps and quotes that the crypto market is flashing a positive signal, especially the US Dollar Index (DXY), which is currently falling.
Basically, DXY is an indicator that depicts the strength of the US dollar, so if DXY falls, it is a positive sign for Bitcoin.
Van de Poppe refers to the DXY chart and claims that DXY is reducing the gap.
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