Leading cryptocurrency analysts express different opinions for Bitcoin, Solana and Cardano. Ali Martinez argues that Bitcoin is consolidating, there is a potential rise in Solana, and caution should be exercised in Cardano. Cane Island Investment Director Timothy Peterson explains the increase in Bitcoin price with Metcalfe’s law. Michaël van de Poppe says that Bitcoin is a shelter against the Euro. Moreover, he says that there is momentum potential in altcoins in the second half of 2024.
Bitcoin is consolidating, what about ADA and SOL?
First of all, Ali Martinez states that Bitcoin has consolidated between $51,000 and $52,500 and that there is a strong holding feature among the information. Martinez says that in Solana, the TD Sequential indicator gives a bull signal, indicating a potential rise. On the other hand, Martinez states that he is cautious about Cardano and that the TD Sequential indicator shows a bear signal on Cardano’s 3-day chart.
Bitcoin according to Metcalfe’s law: Will we see $150k to $200k?
On the other hand, Cane Island Investment Director Timothy Peterson explains the recent increase in Bitcoin price with Metcalfe’s law. According to Peterson, ETFs’ holdings increased by 15% in just one month, and he argues that this increase should theoretically lead to a 28% price change. Peterson says that if ETFs support a 7% monthly rate of new user accounts, the price change could be 300% by December, potentially leading to a Bitcoin price between 150,000 and 200,000.
Van de Poppe: There is high potential for altcoins
cryptokoin.com Cryptocurrency analyst Michaël van de Poppe, whose analysis we include, talked about the European Central Bank’s article claiming that Bitcoin has failed. He says that these statements stem from the institution’s fear of BTC. Van de Poppe claims that the Euro has lost 30% of its purchasing power throughout its 24-year history and that people are fleeing the Euro and taking refuge in Bitcoin.
The analyst says cryptocurrencies other than Bitcoin and Ethereum are 50% off the current all-time high in the overall market and have potential for current momentum. Van de Poppe continues that this potential can be realized in altcoins in the second part of 2024.
As a result, analysts express different opinions for Bitcoin, Solana and Cardano. It is stated that Bitcoin is consolidating, there is a potential rise in Solana, and caution should be exercised in Cardano. According to Metcalfe’s law, the Bitcoin price is expected to reach 200,000 by December. It is also stated that Bitcoin is a shelter against the Euro and there is momentum potential in altcoins in the second part of 2024.
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