- Michaël van de Poppe believes Bitcoin’s current rally took many investors by surprise.
- Several traders expected Bitcoin to drop further after crypto challenges of Q4 2022.
- Poppe advised traders to focus on altcoins that are yet to join the current rally.
The famous Bitcoin trader Michaël van de Poppe has advised cryptocurrency investors on what to watch out for before taking new positions. In his latest YouTube video, Poppe noted that the current rally took many traders by surprise, making them desperate to get into the market.
#Bitcoin correcting, but how deep can we go? When should you actually start buying #altcoins?A fresh update is here:https://t.co/QZXAA3Xw2z pic.twitter.com/CVnOahjBHF
— Michaël van de Poppe (@CryptoMichNL) February 8, 2023
Bitcoin embarked on a steep rally from the beginning of 2023. The market sustained this rally until the end of January, after which a consolidation began. According to Poppe, many investors pulled out of the market just before the rally. They panicked over the possibility of prices sinking further after the challenges the cryptocurrency industry faced in Q4 2022. Interest rate hikes by the U.S. Federal Reser…
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