Source: Daily Hodl Staff
Top crypto analyst Michaël van de Poppe is revealing which assets he is buying during the severe crypto market crash.
Amid a staggering drop in the market, Van de Poppe is preparing his dip-buying strategy as altcoins begin to feel the full effects of the correction.
“Altcoins didn’t drop that much, some of them were even running up in the Bitcoin pairs… On Wednesday, the panic started to kick in and we saw that altcoins were starting to drop heavily as well.
If you want to get into the markets, this is the best moment. Fear levels are extreme. Panic is everywhere. The discussion is that crypto is legitimately dead, but what did change fundamentally about the decentralized finance (DeFi) space and all those other altcoins and projects? Nothing. Ethereum against Bitcoin is still in a bull cycle.”
Van de Poppe announced on Twitter this weekend that he used sidelined cash to buy the dips on oracle projects Chainlink (LINK) and DIA, as well as the flagship cryptocurrency itself, Bitcoin.
— Michaël van de Poppe (@CryptoMichNL) May 23, 2021
The analyst adds that if investors want to take advantage of the dips and protect their capital as much as possible, the key is to look at large-cap projects such as Ethereum or Litecoin (LTC).
Van de Poppe predicts that, as has occurred in the past, once Bitcoin begins to bounce back from its dive down to the low $30,000 area, altcoins will quickly follow, possibly leaving the lowest entry opportunities behind.
“If you want to get into positions that have the lowest risk, you’re going to look at things like Litecoin, you’re going to look at things like EOS or Ethereum. If you’re looking for more risk at this stage you’re going to look at smaller altcoins. So you have to watch Bitcoin but in general, if that bounces, altcoins will most likely come back to play and bounce back quite swiftly.”
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