Popular crypto trader and market strategist Michaël van de Poppe updated followers on how to get the most out of the ongoing crypto bull cycle.
Speaking in a new YouTube video, Poppe outlined a method for altcoin investors to take advantage of the ongoing bull cycle. Poppe recommended following a dollar-cost averaging (DCA) method, whereby investors put small amounts of capital into chosen assets at regular intervals.
He said:If you DCA into the markets then your horizon is multiple years from here… In that approach if something is running heavily you still want to start DCAing or buying a tiny portion every day… accumulating a position that you want to sustain for the coming years.
Poppe recommended a swing trading method for investors interested in short-term gains. Under the program, investors look for good entry points on high-risk, high-reward crypto-assets that are limited to a daily time frame. The popular trader warned that shorter time frames increase the risk of investment, and therefore investors should adjust their allocation accordingly.
Poppe said of short-term trades:
“The approach is different than when you are swing trading as now you are looking at a smaller horizon. The stop loss and take profits areas also will be closer together.”
The strategist concluded his trading session by predicting bitcoin would likely continue to break out, but highlighted the critical level of $52k in the event of a pullback.