Widely followed analyst Michaël van de Poppe believes it is only a matter of time before Bitcoin (BTC) and altcoins regain their bullish momentum.
The trader tells his 759,000 followers on social media platform X that he thinks Bitcoin and altcoins are close to a local bottom.
According to Van de Poppe, crypto will do that witness renewed rallies once the market pullback is over.
“The correction is almost over and the up only time is ahead for altcoins and Bitcoin.
Expect a lot to come.
The optimal entries for longs on Bitcoin are around $90,000 and we are getting that.”
Looking at Bitcoin itself, the crypto strategist believes BTC will continue to see lackluster performance until newly elected US President Donald Trump takes office.
“The scenario for Bitcoin remains the same.
I still expect that we will see some more downside momentum before Trump and return to the upside from there.
The ideal area is about $90,000.”
At the time of writing, Bitcoin is trading at $93,855.
As for the native asset of the popular layer 1 platform Cardano, Van de Poppe thinks ADA is nearing its bottom. He also predicts that the ADA will record a new all-time high by the end of this year or in 2026.
“The scenario remains the same.
Quite a tough run-up to the upside and a correction of 40%.
I think we are nearing the end of this correction, which makes me expect another step forward for things like ADA.”
At the time of writing, ADA is worth $0.85.
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Generated image: Midjourney