{"id":173219,"date":"2023-10-13T02:45:23","date_gmt":"2023-10-12T21:15:23","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=173219"},"modified":"2023-10-13T02:45:23","modified_gmt":"2023-10-12T21:15:23","slug":"trader-says-crypto-entering-final-stages-of-bear-market-examines-a-weakening-bitcoin-btc-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/trader-says-crypto-entering-final-stages-of-bear-market-examines-a-weakening-bitcoin-btc-crypto-news\/","title":{"rendered":"Trader Says Crypto Entering Final Stages of Bear Market, Examines a Weakening Bitcoin (BTC) – Crypto News"},"content":{"rendered":"

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A widely followed crypto trader says digital assets are reaching the end of a bear market while breaking down Bitcoin (BTC<\/a>).<\/p>\n

Crypto analyst Micha\u00ebl van de Poppe\u00a0tells<\/a> his 668,300 followers on the social media platform X that the crypto markets might already be reversing.<\/p>\n

\u201cThe final stage of the bear market for crypto.\u00a0<\/em><\/p>\n

We might be reversing here already in October, going into an uptrend in November (retesting the $26,800 area) or we might be reversing at the end of December for a pre-halving and ETF (exchange-traded fund) rally.\u00a0<\/em><\/p>\n

Good times are ahead for Bitcoin.\u201d<\/em><\/p>\n

According to the analyst, BTC is\u00a0entering<\/a> into a position for long trades.<\/p>\n

\u201cBitcoin into that area of potential longs. I\u2019m starting to buy some here, let\u2019s see where we\u2019re heading with CPI (Consumer Price Index) tomorrow.<\/em><\/p>\n

Dollar and yields turning down, Nasdaq and gold up. Bitcoin is lagging behind.\u201d<\/em><\/p>\n

Source: Micha\u00ebl van de Poppe\/X<\/figcaption><\/figure>\n

According to the trader, BTC still<\/a> isn\u2019t showing much strength.<\/p>\n

\u201cBitcoin doesn\u2019t show strength.<\/em><\/p>\n

Upwards momentum ending in rejecting at $27,000, so probably we\u2019ll test some lower levels before we\u2019ll have a reversal.\u201d<\/em><\/p>\n

\"\"
Source: Micha\u00ebl van de Poppe\/X<\/figcaption><\/figure>\n

Looking at the Bitcoin dominance (BTC.D) index, a measure of how much of the total market cap belongs to Bitcoin, Van de Poppe says<\/a>\u00a0BTC.D is testing the 200-week exponential moving average (EMA) again.<\/p>\n

\u201cSecond time the Bitcoin Dominance provides a retest of the 200-EMA.<\/em><\/p>\n

Last cycles, this identified a potential top. I think we\u2019re getting close to one, which means BTC needs to settle in 1-2 weeks too.\u201d<\/em><\/p>\n

\"\"
Source: Micha\u00ebl van de Poppe\/X<\/figcaption><\/figure>\n

BTC is worth $26,697 at time of writing.<\/p>\n

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Featured Image: Shutterstock\/intueri\/LongQuattro<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

A widely followed crypto trader says digital assets are reaching the end of a bear market while breaking down Bitcoin (BTC). Crypto analyst Micha\u00ebl van de Poppe\u00a0tells his 668,300 followers on the social media platform X that the crypto markets might already be reversing. \u201cThe final stage of the bear market for crypto.\u00a0 We might […]<\/p>\n","protected":false},"author":2,"featured_media":173220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-173219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=173219"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173219\/revisions"}],"predecessor-version":[{"id":173222,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173219\/revisions\/173222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/173220"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=173219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=173219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=173219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}