Bitcoin Analyst Predicts Multiple Flash Crashes Before Year-End as Price Nears $100K: Altcoins Set to Surge, Says Grayscale Bitcoin Mini Trust
Leading cryptocurrency analyst Michaël van de Poppe predicts multiple significant market corrections as Bitcoin BTC/USD hovers near record highs at $98,192.
Van de Poppe cautioned that Bitcoin is expected to experience “4-6 flash crashes” before the end of the year, potentially leading to drops of 5-10% in a single day, with alternative cryptocurrencies possibly facing even larger declines of 20-30%.
Despite these projections, van de Poppe sees these sudden drops as strategic entry points for investors. He highlighted that after a flash crash on Bitcoin, the market tends to consolidate, leading to altcoins surging in value.
While Bitcoin closes in on $100,000, market sentiment remains relatively subdued compared to previous bull markets, indicating potential volatility ahead, as van de Poppe anticipates. He advised investors to be prepared for these market fluctuations and stressed the importance of timing such flash crashes.
On Twitter, Michaël van de Poppe further elaborated on the concept of flash crashes and highlighted the opportunities they create for investors.
In the broader cryptocurrency market, total market capitalization has surged to $3.3 trillion, with major institutions like MicroStrategy Inc. displaying confidence through initiatives like the recent $3 billion convertible note offering to acquire more Bitcoin.
Supporting van de Poppe’s theory of market rotation, analysts like Milkybull project an upcoming “altseason” extending into March 2025, with technical indicators suggesting significant gains for alternative cryptocurrencies following Bitcoin’s correction phases.
As of now, Ethereum ETH/USD is trading at $3,324, up 7.71% in the last 24 hours, while Solana SOL/USD has reached $254.05, showing a gain of 6.79%.
Bitcoin is currently priced at $98,407, with a 3.65% increase in the last 24 hours.
Image Via Pixabay
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