A followed crypto analyst, Ethereum He claims that (ETH) gives a bullish signal compared to Bitcoin (ETH/BTC). Michaël van de Poppe shared his view on X that Ethereum will outperform Bitcoin in the coming times.
According to the analyst, ETH/BTC is showing a bullish trend on the weekly chart. This shows that the parity may be preparing for an upward move.
Looking at the trader’s chart, he seems to think ETH/BTC will rise as high as 0.13 BTC ($5,168) later this year.
At the time of writing, ETH/BTC was worth 0.05596 BTC ($2,224).
The analyst then shared his Bitcoin prediction, and according to the analyst, BTC may drop to around $38,000 before finding support.
Bitcoin is at the low end of the range and is actually in the area to accumulate.
It also means that altcoins are in the buy phase, as declines of 20-40% are a great opportunity.
At the time of writing, Bitcoin is trading at $39,800.
The analyst also made the prediction by examining the price movements of blockchain data aggregator Covalent (CQT). According to Van de Poppe, CQT is likely heading towards the next support level around $0.15 before sparking a strong surge.
One of the last to rise was TIA (Celestia), but rivals are also likely to accelerate the momentum.
CQT is one of them. The market cap is relatively low and is correcting, just like the entire market.
This presents opportunities, and I think CQT is one of those opportunities before it reaches $0.42.
Koinfinans.com As we reported, CQT is trading at $0.214 at the time of writing.