Dutch Trader Explains Bitcoin Surge And Gold Flash Crash

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Last Updated on 10 August 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Bitcoin is trading above $45k this morning as gold tries to recover from Monday’s flash crash (a rapid wick down and then back up which is normally only reserved for cryptocoins or high tech stocks). For those wondering what it all means, Dutch trader and analyst Michaël van de Poppe was there to explain.

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Crypto Michaël

Cointelegraph has named him as one of their favored technical analysts and as such, Dutch trader Michael van de Poppe has seen the popularity of his own YouTube channel grow over the past few months.

Commenting on the gold flash crash which rattled world markets on Monday, Michaël stated:

We saw a big wick on gold and when I’m looking at gold I think the trend is not done but we’re getting towards critical levels in which you want to see support sustained.

When commenting on whether or not this is a good time to enter gold, Michaël claimed:

You should be investing into this commodity while you should always diversify your portfolio and you should always look for an opportunity in commodities to have a little portion of your investment portfolio into this asset at any of these two ranges are good levels to start accumulating some more of this commodity but when I look at this structure on the day time frame this doesn’t shout that gold is going to drop further actually it’s coming back all the way along.

On Bitcoin’s recent test of the $45k level, he stated:

What is going to happen here ? what are we looking at? I think we’re going to wait until any of these critical levels are going to make any decision so if Bitcoin is going to lose $42,200 we’re going to see volatility, if Bitcoin is going to crack $45k we’re going to see volatility.

Michael then concluded with:

Until then, please remain calm and enjoy trading.

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