Analyst: “There may be a buying opportunity for BTC”

Cryptocurrency analyst Van de Poppe, in his latest analysis video, believes that Bitcoin could fall as much as nearly 10 percent from current levels for a final sharp correction. According to the analyst, long-term Bitcoin bulls should see this correction as an opportunity to increase their BTC holdings:

Bitcoin is currently around $25,000. There is a delay in the approval of spot ETFs (exchange traded funds) for Bitcoin. We will have an announcement for Ethereum Futures ETFs in approximately three to four weeks. At this point, applications began to be made for spot Ethereum ETFs. So it’s just a matter of time before they’re approved. So yes, we can expect the cryptocurrency market to make one last correction, but if we close below the 200-week EMA (exponential moving average) and go to $23,000 or $24,000, I think that will be the last correction you want to watch. Because, along with the fact that institutional investors are jumping into the markets, it is necessary to understand that this correction is generally a must-buy investment opportunity for those looking at the cryptocurrency market for the long term.

While Van de Poppe believes that the probability of a correction is extremely high, he added that if the crypto king manages to stay above the 200-week EMA, Bitcoin bulls will be able to push the price upwards, adding:

If the candle closes above the 200-week EMA this weekend and next week, the meaning will be clear. This will be a trigger to continue going up from there.