U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

Altcoins May Move Up Hard Because of Greed: Analyst

News
Thu, 01/30/2020 - 14:58
Vladislav Sopov
While Bitcoin (BTC) traders are guessing whether the crypto king is ready to enter a parabolic uptrend, altcoin hodlers are anticipating a new ‘alt season’.
Cover image via 123rf.com

Seasoned crypto trader and analyst Michael van de Poppe has published a short-term altcoin price forecast and named the main catalyst for a potential bullish run.

Greed brings the growth

Mr. van de Poppe supposes that the only catalyst that may move altcoins upwards is ‘human greed’. Thus, it may be much more profitable to long it.

Also, the trader added that the worst strategy is being a newcomer in the army of Bitcoin (BTC) maximalists. There is no sign that a dead altcoin market is in the cards for these days, concluded mr. van de Poppe.


Bad time for ‘all-in’

By the way, this altcoin rally may not be splendid at all. So, the analyst recommends being careful going to extremes and to cease ‘shouting ‘The Next Bitcoin’ on every altcoin’

At print time, Bitcoin (BTC) is trading at 9,366 USD while major altcoins are in the red zone.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020
Facebook Sues Entrepreneur for Promoting Crypto and COVID-19 Scams
Bitcoin (BTC), Ethereum (ETH), and Chainlink (LINK) Have Most Active Developer Communities on GitHub
Bitcoin (BTC) Price Predicted to Hit $20,000 in 2020 by BitMEX CEO Arthur Hayes