Trader says the bull market has begun

$28,500 — excellent level to open longs ahead of Bitcoin’s move to $40,000. This view was shared by Michaël van de Poppe, founder of trading platform Eight.

#Bitcoin looking at this scenario.

I think, $28,500 is a great spot for longing, the lower the better, but I think that’s the zone where you want to get it before we’ll continue to $40,000. pic.twitter.com/5ZmHWU9qg6

— Michaël van de Poppe (@CryptoMichNL) June 22, 2023

‘Welcome to the new bull cycle’, the specialist said.

According to him, levels below $28,500 are even more favorable for opening long positions.

Welcome in the bull cycle!

— Michaël van de Poppe (@CryptoMichNL) June 22, 2023

Van de Poppe noted that the Bitcoin-dominance index is approaching a key resistance level; in his view this will lead to Bitcoin consolidation and a shift of market attention to altcoins.

#Bitcoin dominance approaching next point of resistance, while #Bitcoin reaches the next point of resistance as well.

Probably #Bitcoin will start to consolidate, so #Altcoins have some period of relief approaching and can pick up pace. pic.twitter.com/5oxf75gorA

— Michaël van de Poppe (@CryptoMichNL) June 22, 2023

Earlier in May, van de Poppe urged investors to ‘take out’ money from banks and invest it in hard assets such as precious metals, bitcoin, and other cryptocurrencies.

Earlier, MicroStrategy founder Michael Saylor predicted a multi-fold rise in digital gold thanks to regulation. In his view, the actions of the SEC lay the groundwork for the next bull phase.