• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

Yashu Gola by Yashu Gola
1 month ago
in Bitcoin
Reading Time: 2min read
Bitcoin Analyst Explains Why Traders Should Buy Altcoins All March

Set of cryptocurrencies with a golden bitcoin on the front as the leader. Bitcoin as most important cryptocurrency concept.

Advertisement

A big correction in the Bitcoin market is underway but it should bring good news to its rivaling altcoins, according to Michaël van de Poppe.

The independent market analyst said in a vlog published Friday that the BTC/USD exchange rate risks decline to its 21-period simple moving average after studying a sequence of the pair’s recent top-to-bottom corrections on a weekly timeframe.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Bitcoin logs its worst weekly drop in a year. Source: BTCUSD on TradingView.com

In retrospect, the 21-WMA serves as an ultimate bottom when Bitcoin is in a bull market. If the price sustains above the green wave (in the chart above), traders’ likelihood of upping their BTC/USD bids increases.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Conversely, a breakdown below the 21-WMA wave pushes the pair into a bear market, as has happened all across 2018, the second half of 2019, and during the coronavirus-led global market rout—a brief one—in March 2020.

Bottom Out

Mr. Poppe anticipated that the bitcoin price would revisit the 21-WMA—or at least would pullback sharply ahead of reaching its magnetic field. Nonetheless, an extended correction would mean a price crash towards $30,000.

In the process, Bitcoin would also take the altcoin market down given its direct influence. Mr. Poppe noted that such a breakdown move would still provide ample profitable opportunities for traders who would then be able to buy their preferred tokens for cheap.

“Bitcoin will find support at the 21-WMA and might start crawling back up again,” the analyst said. “That is why, I assume that we are going to have an altseason in the summer. That is the best nature for altcoins to have when [Bitcoin rebounds from its bottom]. So, March in general is the period when you want to accumulate your altcoins.”

The upside bias appeared due to Bitcoin’s long-term fundamentals as an emerging financial asset. A flurry of recent adoption news led by Tesla’s, MicroStrategy’s and Square’s investment into the cryptocurrency, pushed its store-of-value narrative on the Wall Street, especially as the Federal Reserve committed to stay on its dovish policy course.

Meanwhile, with firms like PayPal, Mastercard, and Bank of New York Mellon adding crypto-enabled features on their legacy platforms, and Bitcoin exchange Coinbase’s potential to go public on Nasdaq, further upped possibilities of greater crypto adoption.

“Fundamentally, nothing has changed about Bitcoin,” said Mr. Poppe. “It is still an undervalued asset, especially comparing it to gold.”

Altcoins Boom

Bitcoin’s move result into comparatively larger swings in the rest of the cryptocurrency market. That was visible during 2020 wherein small-cap tokens outperformed bitcoin by higher margins on a year-to-date timeframes. Similarly, corrections in the bitcoin market resulted in broader dips in altcoins.

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT
Altcoin market performance throughout the previous years. Source: TOTAL2 on TradingView.com

That serves as another reason why altcoins could pose profitable opportunities for traders while bitcoin crawls upward.

Tags: bitcoinbtcusdBTCUSDTcryptocurrency
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN. Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Related Posts

Bitcoin BTC BTCUSD

How Bitcoin back above $60,000 could create a powerful upside move

10 hours ago
bitcoin real estate mogul

LA Real Estate Mogul Buys Bitcoin, Accepts BTC For Rent

1 day ago
Bitcoin BTC

Why Bitcoin could favor USD dominance over Digital Yuan

1 day ago
Radio Host Dave Ramsey Warns Bitcoin Investor of His “Vegas Problems”

Radio Host Dave Ramsey Warns Bitcoin Investor of His “Vegas Problems”

2 days ago
Bitcoin Selling Pressure is Declining, Hints Key Glassnode Indicator

Bitcoin Selling Pressure is Declining, Hints Key Glassnode Indicator

2 days ago
bitcoin strong bull coinbase

Number Of Bitcoin Mentions In Company Earnings Reports Goes Parabolic

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Two Leading Russian Media and PR Agencies United Into One Full Cycle Advertising Agency

April 9, 2021

Southampton FC Extend Partnership Deal with Blockchain Leader the Coingaming Group

April 9, 2021

Omni.ai Releases Whitepaper for Alternative All-Inclusive and Revenue-Sharing Social Media Platform

April 9, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.