Crypto markets have been taking a beating lately, but one analyst thinks a comeback might be just around the corner. Michaël van de Poppe, a well-known trader and analyst, believes four key factors could spark a crypto bull market resurgence.
ETFs, Gold, and the Dollar
Van de Poppe is particularly excited about the potential of Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs). He thinks significant investments in these ETFs could give the crypto market a much-needed boost.
He also believes that a weakening US dollar and a surge in gold prices could trigger a rally in risk assets like Bitcoin.
Reclaiming Key Levels
Another sign of a potential turnaround could be if crypto assets regain their key support levels. For example, if Ethereum (ETH) holds above a certain price point against Bitcoin (BTC), it could signal a bullish trend.
Ripple Settlement
Van de Poppe also sees the potential for a positive market reaction if the US Securities and Exchange Commission (SEC) and Ripple reach a settlement agreement in their ongoing lawsuit. A resolution to this long-standing legal battle could bring much-needed clarity to the crypto space.
Finding the Bottom
While the recent market correction has been tough, Van de Poppe remains optimistic. He believes that crypto assets may have already reached their bottom, based on technical analysis.
Disclaimer:
This information is not financial advice. Always do your own research before investing in cryptocurrencies.
