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Experienced cryptocurrency analyst Michael van de Poppe recently shared his views on the decentralized finance ecosystem Mantra (OM) on social media platform X, highlighting its significant potential for further gains. Van de Poppe suggested that OM, which has seen a remarkable 2,800% increase in value since the beginning of the year, is poised for another upward movement.
Analyst Sees Extremely Positive Outlook for OM
Poppe began his analysis by noting that OM recently reached its all-time high (ATH) and confirmed an expected breakout. He mentioned that the altcoin has delivered a 30% profit since his last update. Optimistic about OM’s future performance, the analyst attributed this expectation to ongoing market rotation and the growing importance of real-world assets (RWA) within the cryptocurrency narrative.
In addition to Mantra’s positive outlook, the platform recently signed a significant $500 million RWA deal with UAE-based developer MAG. As of the latest update, OM is trading at $1.29, a slight increase from the previous day. This marks a significant rise from its price of $0.018 in August of the previous year, showcasing the altcoin’s impressive growth trajectory.
Comment on Bitcoin Reaching “Up to $110,000”
After discussing OM, van de Poppe turned to the largest cryptocurrency, Bitcoin (BTC), expressing his confidence that the price will continue to rise as long as it stays above the $60,000 level. Highlighting Bitcoin’s stable consolidation over a four-month range, Poppe noted that similar trends in gold reaching its ATH and declining yields support a bullish outlook for Bitcoin.
Furthermore, Poppe analyzed Bitcoin’s miner capitulation and the drop in hashrate, a measure of the relative computational power of Bitcoin’s Blockchain. He pointed out that the recent low in hashrate on July 1 was as significant as during the FTX collapse, indicating a low cycle.
According to the analyst, Bitcoin’s price has increased by 20% since the Mt. Gox news, suggesting that the next upward leg could push the largest cryptocurrency to six-figure numbers, potentially reaching $110,000.
