Legendary crypto analyst Michaël van de Poppe shares that he expects a crash in altcoin projects before things get better in the cryptocurrency market. cryptocoin.com We take a look at the analyst’s latest comments…
Analyst targets 2022 in altcoin projects
Van de Poppe tells his 510,700 Twitter followers that Bitcoin (BTC) could hit the $49,000 range next month. However, Van de Poppe adds that altcoin projects could gain momentum as early as 2022:
I’m still assuming BTC can ditch. We’re close to the end of the fix, but it’ll likely eliminate a few more. Altcoin prices will drop a little more and accelerate from January. It will be fun.
The crypto analyst emphasizes that altcoins are currently “bleeding” as investors want to minimize their risk due to market uncertainty and fear of a possible bear market:
Patience is required, but the next rally will be fun.
Van de Poppe also predicts that Cardano will lose value against Bitcoin (ADA/BTC) for the remainder of 2021 before finding support at 0.000023 BTC ($1.31) and potentially reversing its trend early next year. The chart below is Poppe’s analysis on ADA/BTC.
Van de Poppe also analyzes the recent price action of VRA, the service token of Verasity, a decentralized video-sharing blockchain network. The analyst says that the 301-ranked coin by market cap has undergone a “natural and healthy” correction:
Nicely hit the 1.618 Fibonacci extensions. Afterwards, a natural and healthy fix. The first (support/resistance) flip that occurs here can be done. In my opinion, it’s totally fine as a price action.
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