While investors are starting to accept 90% losses, analysts continue their search for altcoins to drive the recovery. The two largest coins, Bitcoin and Ethereum, have lost more than 25% since last week. A cryptocurrency analyst known for his accurate predictions is talking about 100x gains if current levels hit the low.
Michael van de Poppe expects a big return on these altcoin projects
After Terra LUNA and UST, the cryptocurrency market is now in danger of ETH and stETH. cryptocurrency.com We have covered the details in this article. This instability, which caused more panic as the market continued to bleed, put Ethereum under severe pressure. Combined with this, the losses in the last 24 hours of June 13 exceeded 15%. Now, with some altcoins starting to recover in double digits, famed cryptocurrency analyst Michael van de Poppe says prices could rise 20% to 40% in the coming days.
Backing this expectation with historical data, the analyst gives an example of the latest bear market, where Ethereum saw $ 80. As Poppe points out, Ethereum plummeted to $ 80 after raising around $ 1,300 in 2018. The major altcoin subsequently hit $ 4,500 in the 2021 upside. As a result, the analyst says that “the altcoins that recover in the next period could to choose in these months “. At this point Poppe invites his followers to be patient.
Meanwhile, in a tweet earlier in the day, Poppe shared employment data, which he interpreted as a bearish market signal. As a result, Coinbase has laid off more than 1,100 employees, while Binance has added another 2,000. “It’s also a bear market sensation,” says Poppe.
The analyst shared the altcoin he expected 100 times
Chainlink (LINK), the 22nd cryptocurrency by market capitalization, is one of the altcoins that Poppe specifically expects 100 times over. As of this writing, LINK has gained over 10% in the past 24 hours, trading at $ 6.38. In the tweet below, the analyst claims that $ 5- $ 8 is a great opportunity. If LINK confirms these levels as minimums, we can see 50-100 times over the next few periods, according to the analyst.
LINK reached $ 52.88 in the 2021 rise that ended in May. It is currently trading at 87.92% discount from this level. Meanwhile, Bitcoin and Ethereum lost 67.04% and 74.56% respectively. The total market value has also fallen below $ 1 trillion since 2020 again.
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