Top crypto trader and analyst Michaël van de Poppe is bearish on the outlook for bitcoin, warning followers they should stop chasing rallies generated by news events.
In a YouTube update titled “Bitcoin Price Drops Heavily: What’s Next?!”, Van de Poppe told his followers to avoid pursuing an investment strategy that relied upon bitcoin’s sporadic price rallies.
In the update, first spotted by Daily Hodl, Van de Poppe criticized the recent media hype surrounding Elon Musk’s endorsement of bitcoin, calling its influence on the market a poor investment strategy.
#Bitcoin Price Drops Heavily: What's Next?
Small additional market update posted here:https://t.co/6SJUDBwMDw
Enjoy and subscribe!
Tomorrow fresh longer market update!
— Michaël van de Poppe (@CryptoMichNL) January 29, 2021
The popular market analyst called a correction for bitcoin “very healthy” and organic for the investment landscape while predicting BTC’s price could make another rally in March.