As the crypto markets are going through a period of largely sideways price action, popular strategist and trader Michaël van de Poppe provides forecasts for Bitcoin and many altcoins. Cryptocoin. com we share the analyst’s comments…
Forecast for Bitcoin and altcoins from Michael van de Poppe
The crypto analyst tells his 513,000 Twitter followers that he believes Bitcoin (BTC) will peak between $350,000 and $450,000 once the current market cycle ends. Polkadot (DOT) and Chainlink (LINK) estimates that they will be traded in the range of about $ 250 to $ 350, while he thinks Ethereum (ETH) can be traded in the range of $ 10,000 to $ 17,500.
Van de Poppe forecasts Cardano (ADA) to reach the $10 to $20 region, Zilliqa (ZIL) to $5.00 to $7.00, and Elrond (EGLD) to $1,500 to $1750 is doing. Last on the list is DIA, with an estimate of $50 to $75.
According to the analyst, altcoins should be bought in December
Van de Poppe also summarizes his approach to Bitcoin, as the leading cryptocurrency remains below $60,000 and feels it is the right time to buy altcoins:
Very simple. Below $60K I remain cautious/downtrend as I want to see that area change. Levels to be followed in purchases; 53,000-54 for bitcoin. 000 dollar zone and 47,000-50. 000 dollar zones. When to buy altcoin? In December. Nothing has changed in the past weeks.
The analyst then talks about a bearish scenario where BTC could drop below $56,000. He calculates how Bitcoin could drop below $50,000 and change after a breakout that could be seen from February to March 2022.
Van de Poppe ends his analysis by looking at Cardano with the Bitcoin chart. According to the analyst, 2,350 satoshis is an important basis for the ADA/BTC trading pair and could pave the way for a potential break above 3000 satoshis in a few months. Van de Poppe states that Cardano trading is quite simple, making the structure of 2020 “copy-paste”. The chart below highlights the transformation of the green area and the test area of 2,350 satoshis.
The cryptocurrencies in Van de Poppe’s prediction list are priced as follows:
- Bitcoin (BTC): $56,737
- Ethereum (ETH): $4,505
- Polkadot (DOT): $35.78
- Chainlink (LINK): $24.59
- Cardano (ADA): $1.70
- Zilliqa (ZIL): $0.08
- Elrond (EGLD): $359
- DIA (DIA): $1.81