BTC saw a drop below its support at $30,000, today it hovers around the $29,000 – $29.5,000 range, raising many doubts. Still, speculation is high due to positive developments in the crypto space, as well as Bitcoin’s possible resurgence, suggesting that the recent price stagnation in altcoins may soon be a thing of the past.
Noted crypto strategist Michal van de Poppe is unconcerned about the brief decline and offers new insights into how altcoins can regain their positive momentum. Let’s see what his best bet is in the Altcoin season.
Bitcoin Market Analysis
Van De Poppe, in a recent after discussed on Platform X the altcoin theorem, which states that a rally is possible if Bitcoin, the market leader, trades at $29,351 and drops below the psychological level of $30,000. His prediction that Bitcoin could “hit the lows” before recovering to $30,000 is noteworthy. Such a shift could give the alternative cryptocurrency market a much-needed blow, leading to a period of heightened dynamism.
Van De Poppe has a detailed game plan for Bitcoin and has high hopes for other Altcoins as well. Like Cosmos & Chainlink, the hot pick of the season. But here’s the catch!
Cosmos (ATOM) – Entry point is $8
One of the notable altcoins under Van de Poppe’s radar is Cosmos (ATOM), an interoperable blockchain platform. Give one realistic scenariohe identified two promising accumulation scenarios for ATOM.
“This is quite simple. I am interested above $10.50″. He said he will be interested in the altcoin if and ever it stays above $10.50. While additionally identifying a key support level at $8, making it an attractive entry point for long-term holders. The market’s reaction to these key levels can determine the future price of ATOM’s stock. Atom currently costs $9.01. Cosmos’ all-time high is $44.70.
Chainlink (LINK) – A trend reversal on charts?
Next, we have Chainlink (LINK), a decentralized oracle network that has generated a lot of interest among alternative cryptocurrencies. Despite the fact that LINK/BTC has been in a downward trend compared to Bitcoin since May 2021, Van de Poppe gives in his youtube video points to a key marker at 0.00023 BTC (about $6.73).
If LINK can hold its current price above this pivot point, it could signal a possible trend reversal. For investors, this means there is a chance that the price will continue to rise, perhaps even reaching 0.0003950 BTC at the high end of the range. The price per LINK is $7.65 as of now.