Renowned analyst Michaël van de Poppe is optimistic about the future of Bitcoin (BTC) and altcoins, suggesting that a bullish momentum is on the horizon.
With a substantial following of 759,000 on X, the trader believes that Bitcoin and altcoins are nearing a local bottom.
Van de Poppe anticipates a resurgence in the market once the current pullback phase comes to an end.
“The correction is almost complete, and we can expect a period of upward movement for both altcoins and Bitcoin. Exciting times lie ahead.
For long positions on Bitcoin, the optimal entry points are around $90,000, and we are approaching those levels.”
Regarding Bitcoin specifically, Van de Poppe predicts that the cryptocurrency will continue to experience subdued performance until the inauguration of US President-elect Donald Trump.
“The outlook for Bitcoin remains consistent. I foresee further downward momentum before Trump takes office, followed by a return to an upward trajectory. The ideal range to watch is around $90,000.”
As of the current writing, Bitcoin is trading at $93,855.
Turning to Cardano, the native asset of the popular layer-1 platform, Van de Poppe suggests that ADA is in the process of bottoming out. He also foresees a new all-time high for ADA either by the end of this year or in 2026.
“The pattern remains consistent, with a significant upward trend followed by a 40% correction. We are nearing the end of this correction phase, and I expect a new surge for assets like ADA.”
At present, ADA is valued at $0.85.
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Image Credit: Midjourney