He also shared key reasons why Ethereum is likely to reach new momentum within the upcoming few weeks.
However, as for the long term, he reckons that then a tremendous amount of new cash flows will start going into the Bitcoin market from fresh participants. When this happens, he adds, Bitcoin may soar much higher in the current cycle than everybody thinks it will.
Famous crypto YouTuber Lark Davis seems to agree with van de Poppe. In a recent tweet, the cryptocurrency blogger called on his followers not to be afraid of the Bitcoin plunge taking place at the moment. He assumed that should anyone “look behind the scene, ” it would become clear that the top market players are taking advantage of this Bitcoin price dip – major financial institutions, nation-states and companies are taking this chance to accumulate Bitcoin cheaper than before.
Lark ended his tweet, stating: “This is the dip that you wanted 3 weeks ago.”
The first reason is that Bitcoin is now bottoming out, and this is usually a big trigger for altcoins to start on a new bull run. The second one is the hype about spot Ethereum ETFs soon getting stronger. And the final reason is that Ethereum is soon to roll out new upgrades, which are expected to bring down transactional costs on this blockchain by a whopping 90%.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
