Van de Poppe announces Ethereum buying season at the bottom

Analyst Michael van de Poppe advises buying Ethereum despite the significant drop in the cryptocurrency rate.

On August 24, the ETH price updated its historical maximum at $4,957, but the bears took over, and the coin fell by 14%. However, the dump was accompanied by a decrease in trading volume, so the possibility of a resumption of the bull rally in the near future cannot be ruled out. Van de Poppe, a long-time investor in digital assets, wrote about this.

It’s obvious. The season of buying Ethereum at the bottom has started because the bulls are just getting started, Michael wrote.

The expert attached a chart of the ETH exchange rate against the Bitcoin price to his post, which shows that the Ethereum price has risen sharply, as it did in 2020. Therefore, van de Poppe recommends buying ETH and believes that BTC will continue to lose to its rival.

ETH Price Fluctuations vs BTC Rate

If the situation observed in 2020 repeats itself, then эфириум will rise in price until October 2026. According to the Elliott Wave Theory, the coin rate will rise to a maximum of $6,240. The digital asset currently costs $4,458, so buying BTC at the current price and selling them at the peak can result in a 40% profit.

However, one trader who held the opposite view countered Michael:

Bro, the bull run is over. Don’t lie to your followers. Bitcoin has peaked and it’s only going to go down from here.

Source