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Analysts have made their mark on the world of cryptocurrencies with their recent comments. Notably, crypto analyst Michaël van de Poppe, known for his optimistic views and followed publications, has turned his attention to altcoins while Bitcoin (BTC) experiences a pause in price movement.
Analyst’s Comments on Altcoins
Crypto trader Michaël van de Poppe took advantage of Bitcoin’s stagnation to shift his focus to altcoins. On Twitter, he made an incredible prediction about Chainlink (LINK), suggesting that its price could see a 123% increase to reach $40 in the coming months.
Chainlink took another step up towards significant resistance in the BTC pair. It didn’t break. Looking for a higher low and support, then a return to 4500 satoshis. I believe LINK could rise to $30-40 in the coming months.
At the time of writing, Chainlink (LINK) was showing signs of recovery, with its price nearly reaching a neutral level. The neutral price level was indicated at $18.12. During this period, the market cap had decreased by 1% to just over $10.5 billion, while the trading volume had increased by 7% to $450 million.
Van de Poppe highlighted the slight 1.6% decrease in Bitcoin’s price over the last seven days, suggesting that some altcoins in the market could benefit from this.
I will try to buy the dip in the markets. One of them is API3, which is currently facing an exciting region for opportunities. The range of $3.50-$3.80 is catching my interest before another rise occurs.
API3, a competitor to Chainlink and positioned as an oracle service, was trading at $3.78 at the time of writing, representing a 6% decrease in the last 24 hours. Its market cap had also fallen by 6% to $327 million, while its 24-hour trading volume had dropped by over 36% to $32 million.
Comments on Bitcoin
Van de Poppe also mentioned that despite recent price movements, Bitcoin’s overall trend could still be upward, providing investors with an optimistic outlook for Bitcoin.
Bitcoin is experiencing a slight pullback before continuing its upward trajectory.
At the time of writing, BTC’s price was finding buyers in the $50,945 region after a 1.1% drop during the day. The fact that BTC did not reach the $53,000 level by a small price margin seemed to be increasing anxiety among investors.
