According to the opinion of an expert who is generally respected, the cryptocurrency markets as a whole have more opportunity to go to the higher before seeing a substantial correction.
Analyst Michael van de Poppe has informed the 653,500 people who follow him on Twitter that he is keeping a watch on a variety of different cryptocurrencies, such as the cryptocurrency king Bitcoin (BTC), the top altcoin Ethereum (ETH), and the peer-to-peer payments network Litecoin (LTC).
Van de Poppe said that he believes the price of bitcoin will reach between $38,000 and $42,000 before it begins to rectify itself. A trader believes that Ethereum’s price has the potential to go to between $2,700 and $3,000, while Litecoin’s price has the potential to reach as high as $260.
At the time of this writing, one Bitcoin is equivalent to $29,441 USD. Litecoin is now selling at $99.15 and Ethereum can be purchased for $2.075 at this time. The trader is also keeping a close eye on Ethereum competitor Avalanche (AVAX), which some analysts anticipate may see a price increase in the range of $55 to $65. Van de Poppe believes that the interoperable blockchain Cosmos (ATOM) has the potential to reach as high as $35, while the decentralized oracle network Chainlink (LINK) has the potential to spike between $18 and $22.
At the time of this writing, the value of AVAX on the market is $20.54, the value of ATOM is $12.32, and the value of LINK is $8.14. If bulls are successful in reclaiming $29,800, then Van de Poppe feels that Bitcoin might restart its ascent, which is his short-term forecast for the cryptocurrency.
“Because of the rise of Bitcoin. Now, recovering $29,800 would set off a chain reaction that would send prices higher. The other cryptocurrencies have not yet begun to face the effects of the bear market because their prices are still stabilizing or making gains against bitcoin.
