Cryptocurrency analyst and trader Michaël van de Poppe is sharing his bullish outlook on a top-50 altcoin by market cap, along with his insights on the current trends in Bitcoin (BTC) and Ethereum (ETH).
Van de Poppe believes that Stacks (STX), the native token of the Bitcoin layer-2 project, is poised for a significant price increase. After consolidating for over six months, he predicts that STX could see a rise of approximately 109% from its current level. The recent completion of the Nakamoto upgrade, aimed at improving transaction speed, has set the stage for a potential breakout. Van de Poppe suggests that once STX breaks above $2.20, it could rally to a new all-time high. At the time of writing, STX is trading at $1.85, well below its peak of $3.86 in April.
Shifting focus to Bitcoin, Van de Poppe anticipates a price range of $100,000 to $120,000 in the next one to two months. He hints at the possibility of an altcoin season reminiscent of 2017 following this bullish movement. Currently, Bitcoin is trading at $93,700.
In the Ethereum/Bitcoin (ETH/BTC) pair analysis, Van de Poppe observes a potential bottoming out next month. Despite failing to surpass a key resistance level, the ETH/BTC pair is expected to find support and reverse its downward trend. If the decline continues, Van de Poppe predicts a possible drop to 0.03 BTC in December. Ethereum is currently trading at 0.03302 BTC ($3,094).
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As the market dynamics continue to evolve, it’s essential to stay informed and adapt to the changing landscape. Keep a close eye on emerging opportunities and be prepared to capitalize on potential breakouts. Stay tuned for more insights and analysis from industry experts like Michaël van de Poppe to navigate the cryptocurrency market successfully.