Michael Van De Poppe, one of the popular crypto traders who said that Bitcoin will start to rise in the past days, shared his thoughts for the leading crypto Bitcoin.
Explaining the level that he expected to decline after the leading cryptocurrency could not overcome the resistance level of $ 30,750, Poppe shared the following words with his followers on his official Twitter account:
"It would be great if Bitcoin holds above $29,600"
"Would be great if #Bitcoin holds above $29.6K. Crucial resistance becoming resistance, if we hold above $29.6K, then I'm assuming $32.8K is next."
Poppe emphasizes that it is very important to hold on to the $29,600 support in possible pullbacks. After Bitcoin managed to hold this level, an upward trend to $ 32,800 is expected.
The leading cryptocurrency has seen some downward pressure in the last hours. Facing a harsh rejection, BTC still has not been able to sustain above the $ 30,750 level.
Although investors expect resistance levels to be overcome in the coming hours, there should be heavy volume entries to BTC. While these volume entries are seen on altcoins, there is still no expected level of transaction volume on Bitcoin.
While it is seen as a very negative move that whales transfer BTC to stock markets and sell, it is also a positive move that this seller pressure on the leading cryptocurrency is slowly breaking down.
1 in 10 Houses in Europe Invest in Cryptocurrency
According to a study by the European Central Bank (ECB), 10% of households in Europe, that is, 10 out of every 100 households, invest in cryptocurrencies.
According to the research, 10% of households invest in cryptocurrencies. Wealthy families seem to be more inclined to buy Bitcoin and altcoins. These countries include Belgium, France, Germany, Italy, Spain and the Netherlands. The Netherlands took the lead with 14%, while France was at the bottom with 6%.
The survey showed that younger men and more educated people are more invested in crypto. The ECB also stated that cryptocurrencies are not a suitable investment vehicle for every investor and therefore EU authorities must “urgently” regulate.