A widely followed cryptocurrency analyst claimed that today and tomorrow’s price movement is of great importance for Bitcoin (BTC). The analyst also revealed the altcoins on his radar.
US Data!
Cryptocurrency analyst Michael van de Poppe stated on Twitter that the price movement of Bitcoin will be determined according to the personal consumption expenditures (PCE) and gross domestic product (GDP) figures announced by the US today. He made the following statements:
Bitcoin is rejecting $29,700 in a critical area. Today and tomorrow are more important. GDP and PCE. If the numbers are good, we will break $30,000, but I wouldn’t be surprised if I bought the dips to do that.
According to Van de Poppe, the GDP figures came out more positive than expected. The analyst emphasized that he expects BTC to recover if the PCE figures are also positive, and said the following:
GDP came out much more positive than expected. That’s great. The case of a soft landing starts to gain momentum. If GDP had been worse than expected, you would have seen the markets drop. Bitcoin is stable, stocks are stable. Now PCE is better than expected, and we are going up.
BTC and Altcoin Analysis!
Van de Poppe also commented that he expects Bitcoin to likely make one more move downwards before taking another step. He said the following about the matter:
It seems like Open Interest, price overflowing upwards, Bitcoin will likely pull back before rising. If not? Win $29,700 in one go and let’s have a party.
The cryptocurrency analyst who addressed Chainlink (LINK) claimed that LINK is ready to explode and shared his views on the altcoin:
Let’s move on to LINK. It’s filled on this retest. Now ready for $10. LINK is trading at $8 as of writing.
The cryptocurrency analyst who discussed Dogecoin (DOGE), the rival of Shiba Inu (SHIB), predicts a major upward movement. The analyst said the following about DOGE:
Well, DOGE is likely to continue expanding towards $0.10 here. Keep buying the dips.
