dailyhodl.com
Cryptocurrency analyst and trader Michaël van de Poppe is leaning bullish on one top-50 altcoin by market cap while offering his insight on Bitcoin ($BTC) and Ethereum ($ETH).
Starting with Stacks ($STX), Van de Poppe tells his 738,800 followers on the social media platform X that the native token of the Bitcoin layer-2 project could go up by approximately 109% from the current level after a consolidation phase that has taken over six months.
“The markets are waking up, meaning you should be scanning for projects ready for a breakout.
One is $STX, which has been consolidating for 200+ days.
They have successfully completed the Nakamoto upgrade [a hard fork that was designed to, among others, improve the transaction speed]!
Break above $2.20 and then it should run to a new all-time high.”
$STX is trading at $1.85 at time of writing, about 52% below the all-time high price of $3.86 reached in early April.
Turning to Bitcoin, the widely followed trader says that the crypto king could reach a price of between $100,000 to $120,000 over the “coming one to two months.”
“After that, the start of the altcoin season just like 2017 has been.”
Bitcoin is trading at $93,700 at time of writing.
Next up is the Ethereum/Bitcoin ($ETH/$BTC) pair. According to Van de Poppe, the $ETH/$BTC pair is likely to bottom out next month after failing to break above a key resistance level and if it continues falling further.
“$ETH couldn’t flip the area at 0.036 $BTC and continues to fall.
We’re waiting for support to be found. If this downtrend continues, then we’re likely seeing 0.03 $BTC in December and reverse from there.”
Ethereum is trading at 0.03302 $BTC ($3,094) at time of writing.
Generated Image: Midjourney