A closely followed crypto strategist is predicting a quick Bitcoin (BTC) bounce after dipping below $29,000, while also calling for one Ethereum (ETH)-based altcoin to take off.
Analyst Michaël van de Poppe tells his 661,500 Twitter followers that Bitcoin is likely to soon reclaim the $30,000 range after touching a strong demand area near the $28,300 level.
“There we go, Bitcoin.”
He predicts Bitcoin will continue upwards to hit $31,000, which would be a 7% increase from its current value.
Next, the analyst says that decentralized oracle network Chainlink (LINK) could be about to reclaim the $9.27 level sometime before September.
“So far, so good for Chainlink.”
Chainlink is trading for $7.48 at time of writing, down 0.9% during the last 24 hours.
The analyst is also predicting a massive inflow of liquidity to the overall total market capitalization of digital assets in the coming months.
According to Van De Poppe, the total market cap of digital assets will likely increase from $1.14 trillion to $2 trillion by the beginning of next 2024 before a correction and a subsequent wave back up to all-time highs at $3 trillion by 2025.
In a new video strategy session, van de Poppe tells his 162,000 YouTube subscribers that Bitcoin’s low volatility indicates price action may soon heat up for BTC. He suggests Bitcoin could end up setting a new local low around $27,000 before recovering.
“But given the fact that the volatility is on an all-time low, cycle-low, actually from the past 13 years we’ve not seen the volatility being so low as it is right now, which ultimately means that there is going to be a significant move on the market.
So this week is either going to be a week where we cascade all the way south towards $27,000. And then the chances are that we’re going to have a new low or we have a sweep beneath the low taking place. We reclaim and the correction is over.”
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Source: https://dailyhodl.com/2023/08/01/crypto-analyst-predicts-imminent-bounces-for-bitcoin-btc-and-one-ethereum-based-altcoin/