He added that while the current price action was something to be celebrated, a “healthy correction” was now getting more likely.
“Would that be bad? No, as the higher Bitcoin goes, the more money is into the markets and the more money can flow towards the altcoins from this perspective,” he continued.
Altcoins still steal the show
As Cointelegraph reported, the end of December was characterized by more funds entering long-term storage, with the remaining available supply subject to what Van de Poppe and others term “FOMOing in” from less experienced buyers.
These felt that they should seize the opportunity and buy Bitcoin at higher levels, having had no interest in doing so while Bitcoin traded at $10,000, he noted.
Across major altcoins, Ether (ETH) was up 2.3% on the day, hitting $1,180, while embattled XRP put in a surprise move to add 27%.
Stellar (XLM) meanwhile continued its march upwards, hitting $0.34 on the back of weekly returns that topped 170%.
Bitcoin’s market cap dominance stood at 68.5% on Thursday, down from 69.7% at the start of the week.