Bitcoin

Analyst Michaël van de Poppe Predicts Inevitable Upward Momentum for Solana Competitor Provides Bitcoin Outlook Update

adminJun. 8, 202404 mins

Renowned cryptocurrency expert and trader Michaël van de Poppe is optimistic about a potential bullish trend for Sei (
SEI
), a competitor to Solana (
SOL
).
Van de Poppe recently shared with his 719,300 followers on the social media platform X that Sei may soon experience a surge in upward momentum, as indicated by his analysis.

Source: Michaël van de Poppe/X
The cryptocurrency analyst noted that Sei has declined by approximately 70% against Bitcoin (SEI/
BTC
) since the beginning of the year. Based on Van de Poppe’s daily chart analysis, Sei could find support at 0.0000006 BTC ($0.42).
At the time of writing, Sei, with a market capitalization of approximately $1.6 billion, is trading at 0.00000768 BTC ($0.543).
Shifting focus to Bitcoin, Van de Poppe mentioned that the leading cryptocurrency is currently range-bound between $67,800 and an all-time high near $73,800. He emphasized that Bitcoin is poised for a potential breakout towards a new record high.
In the event of a bearish scenario for Bitcoin, the trader shared a chart outlining possible support levels at $67,789, $60,748, and $56,000.

Source: Michaël van de Poppe/X
Van de Poppe highlighted that the main factors driving the bullish sentiment for Bitcoin and other cryptocurrencies include the easing of monetary policies by central banks.
He stated, “The European Central Bank has decided to lower interest rates today, becoming the first central bank to do so. I believe it won’t be long before the Federal Reserve follows suit and reintroduces quantitative easing. This seems to be the only solution to the current economic situation. In response, I recommend going long on cryptocurrencies, Bitcoin, and commodities.”
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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors are advised to conduct thorough research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. All transfers and transactions are at the investor’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it provide investment advice. Please note that The Daily Hodl engages in affiliate marketing.

Analyst Michaël van de Poppe Predicts Inevitable Upward Momentum for Solana Competitor Provides Bitcoin Outlook Update

adminJun. 8, 202403 mins

Renowned cryptocurrency expert and trader Michaël van de Poppe is optimistic about a potential bullish reversal for Sei (
SEI
), a competitor to Solana (
SOL
).
Van de Poppe, with a substantial following of 719,300 on X, suggests that Sei is poised for a surge in upward momentum, as indicated in his chart analysis on the daily timeframe. Despite a 70% decline against Bitcoin (SEI/
BTC
) since January, Sei may find support at 0.0000006 BTC ($0.42).
With a current market cap of approximately $1.6 billion, Sei is currently trading at 0.00000768 BTC ($0.543).
In terms of Bitcoin, Van de Poppe notes that the leading cryptocurrency is currently range-bound between $67,800 and an all-time high of around $73,800. He anticipates a potential breakout for Bitcoin to reach new highs soon.
However, in the event of a bearish turn for Bitcoin, Van de Poppe provides potential support levels at $67,789, $60,748, and $56,000.
Van de Poppe identifies the easing of monetary policy as a key catalyst for the bullish outlook on Bitcoin and other cryptocurrencies. With the European Central Bank cutting rates and potential actions from the Federal Reserve, Van de Poppe suggests that investing in crypto, Bitcoin, and commodities may be a strategic response to the current economic situation.
To stay updated on market movements and trends, subscribe for email alerts and follow The Daily Hodl on X, Facebook, and Telegram.
Please note that the opinions expressed in this article are not financial advice. It is recommended that investors conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. All trading activities are undertaken at the individual’s own risk, and any resulting losses are the responsibility of the investor. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and is not an investment advisor. Additionally, The Daily Hodl engages in affiliate marketing activities.