Get the scoop on finance - sign up for mobile alerts
Bitcoin
| On
August 1, 2023

Crypto Analyst Predicts Imminent Bounces for Bitcoin (BTC) and One Ethereum-Based Altcoin

By Daily Hodl Staff

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.

ADVERTISEMENT

“There we go, Bitcoin.”

Source: Michaël van de Poppe/Twitter

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.”

ADVERTISEMENT
Source: Michaël van de Poppe/Twitter

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.

Source: Michaël van de Poppe/Twitter

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.

ADVERTISEMENT

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.”

I
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix

&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/diversepixel/SergZSV.ZP