1. Crypto analyst Michaël van de Poppe predicts that Bitcoin (BTC) is likely to bounce back above $30,000, with a potential increase to $31,000.
2. He also suggests that Ethereum-based altcoin Chainlink (LINK) is set to rebound to the $9.27 level before September.
3. Van de Poppe foresees a substantial increase in the total market capitalization of digital assets, from $1.14 trillion to $2 trillion by early 2024, and reaching all-time highs of $3 trillion by 2025.
Crypto Analyst Forecasts Imminent Rises for Bitcoin and One Ethereum-Based Altcoin
Bitcoin Predicted to Reclaim $30,000 Range
Popular crypto strategist, Michaël van de Poppe, recently communicated to his Twitter followers of more than 661,500, that we can expect Bitcoin to make a swift bounce back above $30,000. This comes after the cryptocurrency dipped below $29,000, touching a strong demand area near the $28,300 level.
Van de Poppe anticipates Bitcoin’s upward trajectory to continue, possibly reaching $31,000, a 7% increase from its current value.
In addition to his Bitcoin forecast, the analyst also predicts a rise for decentralized oracle network Chainlink. According to Van de Poppe, Chainlink, currently trading at $7.48, could reclaim the $9.27 level before September.
Significant Inflow of Liquidity Predicted for Digital Assets
Van de Poppe also expects a massive inflow of liquidity into the overall market capitalization of digital assets in the upcoming months. He predicts the total market cap of digital assets will surge from $1.14 trillion to $2 trillion by the beginning of 2024.
A New All-Time High for Total Market Cap by 2025
Following a correction, he anticipates a subsequent wave back up, projecting all-time highs for total market cap reaching $3 trillion by 2025.
Price Action to Heat Up for Bitcoin
In a recent video strategy session, Van de Poppe suggests that the current low volatility of Bitcoin indicates a potential heat up for BTC price action. He suggests that Bitcoin could set a new local low around $27,000 before recovering.
“Given the fact that the volatility is on an all-time low, cycle-low, actually from the past 13 years we’ve not seen the volatility being so low as it is right now, which ultimately means that there is going to be a significant move on the market,” he said.