With the altcoin market in a state of volatility, Bitcoin is undergoing a correction; both BTC and its counterparts are pulling back from their recent sharp advances. Michaël van de Poppe sees this as only natural and encourages investors to look for what the crypto markets have to offer.
Why Bitcoin and Altcoins Are Correcting
Bitcoin has corrected over the last few weeks in tandem with a broad sell-off in altcoins, all after considerable market growth. “It is an organic reaction,” says the analyst and trader, pointing to the explosive gains of up to five or six times in value that some altcoins have achieved. To van de Poppe, this latest decline is hardly a surprise.
One does not have to look far in the crypto space for such behavior. An asset that has appreciated significantly will often see a 20% or greater pullback following a rapid surge, he says. Rather than any kind of failure, van de Poppe considers it a normal part of the cycle.
Investor Concerns and Market Strategy
There is concern among some that October will see Bitcoin make new lows but, in light of the preceding rally, van de Poppe thinks those fears are somewhat exaggerated. Where others might be anxious at the prospect of more downside, he regards the present correction as a healthy consolidation after speculation.
He has been putting his money where his mouth is. In anticipation of a downturn during the altcoin run-up, van de Poppe built up cash in his portfolio. With the market retreating, he is now moving those funds into crypto again, a clear sign of his long-term confidence.
Staying Informed During Volatility
Van de Poppe advises anyone dealing with the volatility to stay abreast of good analysis. He makes a point of posting updates and his own take on how the market is moving to his Twitter followers so they can stay well informed. Unsettling as corrections may be, they are just a fact of life when one invests in cryptocurrencies.
This article reflects the channel author’s opinion and is not investment advice.
Understand market volatility better by practicing risk-free trading on real markets with our simulator. Practice with trading simulator.
Read also
Discussion
Comments from BuyCrypt Live. Sign in with Google or Apple — we create your BuyCrypt account on the way, the same one as in the app.
