The cryptocurrency market is known as a dynamic field that is in constant change and development. Each new period offers new opportunities and potentials for investors. Famous crypto expert Michael van de Poppe recently evaluated these potentials and shed light on altcoins that he believes are ready for a significant rise. End in the analysisexplored the current state of the crypto market, focusing specifically on Bitcoin’s resistance level and the potential impact of that level on the altcoins it bets on.
Van de Poppe’s focus on altcoins highlights their potential to outperform the current market. In his detailed analysis, he places special emphasis on certain altcoins that he considers to be excellent buying opportunities this cycle. These altcoins include Chainlink (LINK), Arbitrum (ARB), SKALE, Covalent and SEI (SEI).
Chainlink (LINK) stands out as a project of great importance in the field of decentralized finance (DeFi). According to Van de Poppe’s analysis, despite recent price corrections, Chainlink offers significant upside potential, especially with increasing interest in DeFi and decentralized applications (dApps).
The analyst then focuses on Skale Network (SKL), saying it is positioned as a layer 2 solution for Ethereum, aiming to increase scalability and reduce gas fees. While it appears to be resilient to Bitcoin, this signals a consolidation phase. Technical indicators are pointing to a potential breakout, which could see its value rise by 240% to reach the next resistance level.
Another altcoin on the analyst’s radar is Covalent. It is a platform that aims to simplify blockchain development and integration. Van de Poppe sees Covalent as a rival to established players such as Tia and believes it has significant growth potential. The analyst also noted that Covalent’s price against BTC has fallen by more than 40%, making CQT an attractive investment for those interested in crypto data infrastructure.
Arbitrum (ARB) is an Ethereum-based second layer solution. It stands out for offering an alternative solution to Ethereum’s scalability problems. According to Van de Poppe’s analysis, Arbitrum’s future is bright and current price levels could be attractive for buying. Additionally, Arbitrum’s ATH was $2.39 three months ago, and Bitcoin’s positive impact suggests it could surpass this level in the second quarter following the halving event.
Finally, SEI (SEI) is a relatively new project that launched on the mainnet last August. In this market cycle, SEI has reached all-time highs, including $1.14 on March 16. Van de Poppe highlighted SEI’s potential for investors looking to move into promising but less established projects.
Bitcoin under the spotlight
Additionally, van de Poppe observes that Bitcoin’s price is currently in a process of consolidation near its all-time high, driven by the narrative surrounding recent ETF inflows. Bitcoin’s price chart generally follows a sideways trend rather than showing a definitive trend in a particular direction. This reflects the uncertainty of the market and the strength of the factors that will determine the direction of the price.
Van de Poppe suggests that Bitcoin will likely move sideways in the near term, but significant buying opportunities may emerge in the range from the lower end of $50,000 to $60,000.
Additionally, van de Poppe outlines a potential scenario in which he sees Bitcoin rising to all-time highs and a range of $75,000 to $80,000. However, he emphasizes that such a rise may first require further consolidation and provision of liquidity above previous highs. He also points out that such a move in Bitcoin could also create a ripple effect in the altcoin market. Altcoins are generally sensitive to Bitcoin’s price movements, and volatility may increase in these altcoins during periods of Bitcoin consolidation.
Finally, van de Poppe confidently states that he believes Bitcoin will not finish the year at a price below $80,000. However, for this prediction to come true, a number of factors will need to come together in the market and their impact on Bitcoin’s price will become clearer.
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