Crypto strategist Michaël van de Poppe says this Ethereum-based altcoin could rise over 160% compared to Bitcoin
Cryptocurrency analyst and trader Michaël van de Poppe says a digital asset in the top 15 could soon skyrocket against Bitcoin (BTC).
Van de Poppe tells his 685,300 followers on social media platform X that decentralized oracle provider Chainlink (LINK) could gain more than 167% against Bitcoin (LINK/BTC).
“Chainlink has maintained a crucial level of support for the BTC pair and is likely to continue from here. Decisive breakout above 0.00045 BTC. If this is broken, a rise to 0.0008-0.001 BTC appears to be next.”
Source: Michael van de Poppe/X
Looking at its chart, the trader suggests that LINK/BTC is on the verge of a trend reversal and is about to break a key resistance level at 0.0004480 BTC ($18.63).
At the time of writing, LINK/BTC is trading for 0.0003741 BTC ($15.59).
The trader also weighs in on Bitcoin as the crypto king fell to lows of $40,000 this week. He believes that Bitcoin is in the early stages of the bull market cycle and would not be surprised if there was a correction to the $36,000 level.
“Bitcoin is not in a bear market; it is the beginning of a new bull cycle. However, as this is the start of a new bull cycle, discussions between the two groups will be intense…
We may already be there with Bitcoin, but it is likely that we will test a lower price before a reversal can occur again. My personal interest is between $36,000 and $40,000 to invest more in Bitcoin. The area remains defined.”
Source: Michael van de Poppe/X
Bitcoin is trading at $41,636, up slightly in the last 24 hours.
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