Analyst Says ‘Up Only’ Price Action on the Horizon for Bitcoin and Altcoins, Predicts New Leg Up for Cardano
Widely followed analyst Michaël van de Poppe believes it’s only a matter of time before Bitcoin ( BTC ) and altcoins regain their bullish momentum.
The trader tells his 759,000 followers on the social media platform X that he thinks Bitcoin and altcoins are close to carving a local bottom.
According to Van de Poppe, crypto will witness renewed rallies once the market pullback is over.
“The correction is almost over and the time for up only is on the horizon for altcoins and Bitcoin.
Expecting a lot to come.
The optimal entries for longs on Bitcoin are around $90,000 and we’re getting those.”
Looking at Bitcoin itself, the crypto strategist thinks BTC will continue to see lackluster performance until US President-elect Donald Trump takes office.
“The scenario on Bitcoin remains the same.
I’m still expecting that we’ll see some more downward momentum pre-Trump and return upwards from there.
The ideal area is around $90,000.”
Source: Michaël van de Poppe/X
At time of writing, Bitcoin is trading for $93,855.
As for the native asset of the popular layer-1 platform Cardano, Van de Poppe thinks ADA is in the process of bottoming out. He also predicts that ADA will print a new all-time high late this year or in 2026.
“The scenario remains the same.
Pretty heavy run upwards and a 40% correction.
I think we’re getting towards the end of this correction, through which I’m expecting a new leg up for things like ADA.”
Source: Michaël van de Poppe/X
At time of writing, ADA is worth $0.85.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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