Renowned crypto expert Michael van de Poppe recently shed light on altcoins he believes are primed for a significant surge. In his latest analysis, he explored the current state of the crypto market, mainly focusing on Bitcoin’s resistance level and its potential impact on the altcoins he is betting on.
Van de Poppe’s focus on altcoins spotlights their potential to outperform in the current market. In his detailed analysis, he zeroes in on specific altcoins, including Chainlink (LINK), Arbitrum (ARB), SKALE, Covalent, and SEI (SEI), as a perfect buying opportunity in this cycle.
Chainlink, in particular, stands out in van de Poppe’s analysis. Despite recent price corrections, he believes Chainlink offers significant upside potential, especially with the growing interest in DeFi and decentralized applications (dApps).
Focusing on Skale Network (SKL) he says it is positioned as a layer 2 solution for Ethereum, aiming to improve scalability and reduce gas fees. While he sees it as resilient against Bitcoin, signaling a consolidation phase. Technical indicators hint at a potential breakout, pushing its value up by 240% to reach the next resistance level.
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Next on his list, Covalent (CQT) is another project focused on modular blockchain solutions, aiming to simplify blockchain development and integration. Van de Poppe sees Covalent as a competitor to established players like Tia and believes it has the potential for significant growth. It has seen its price decline by over 40% against BTC, making CQT an appealing investment for those interested in crypto data infrastructure.
Arbitrum’s ATH was $2.39 three months ago, and Bitcoin’s positive influence suggests it could surpass it this Q2 after its halving. Arbitrum is highlighted for its roll-up mechanism, offering faster and more scalable transactions compared to Ethereum. Arbitrum is the best crypto to buy this year for gains.
Last but not least, The new layer-1 protocol SEI Network launched on the mainnet last August and has garnered notice. This market cycle has seen its token SEI achieve new all-time highs, including $1.14 on March 16. Van de Poppe highlights its potential for investors looking to diversify into promising but less established projects.
He observes that Bitcoin’s price is currently consolidating close to its all-time high, driven by narratives surrounding ETF inflows. He suggests that while Bitcoin may experience sideways movement in the near term, significant buying opportunities could arise in the mid-$50K to low $60K range.
He also outlines a potential scenario where Bitcoin rallies to new all-time highs, projecting a range of $75K to $80K. However, any such rally may primarily provide liquidity above previous highs before further consolidation. This movement in Bitcoin, he suggests, will have a ripple effect on the altcoin market.
Also Read : Dogecoin (DOGE) Price to Reach $1 in the Coming Weeks: Analyst Predicts
The expert confidently says that he believes Bitcoin will end the year at nothing less than $80,000. At press time, BTC is worth $65,698.
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