The widely followed cryptocurrency trader and analyst Michaël van de Poppe is expressing bullish sentiment on a leading blockchain oracle while outlining the potential path forward for Bitcoin (BTC) and Ethereum (ETH).
Van de Poppe tells his 722,000 followers on the social media platform X that the price action of Chainlink (LINK) when paired against Bitcoin is currently mimicking a pattern that previously led to a triple-digit percentage points rally.
“A similar price pattern occurred in previous years, resulting in a 150% rally in the year’s second half.
I’m expecting the same.”
Chainlink is trading at 0.0002254 BTC ($14.34) at time of writing.
Next up is Bitcoin. The widely followed analyst says that Bitcoin will potentially bottom out at around the $63,000 – $65,000 level before turning upwards.
“The reversal is on the horizon.”
Bitcoin is trading at $63,580 at time of writing.
Next up is Ethereum. According to Van de Poppe, Ethereum is “showing some resilience” when paired against Bitcoin even as the crypto “markets continue their downward fall.”
The widely followed analyst and trader says that as long as the ETH/BTC support level at around 0.05 BTC holds, Ethereum will be “fine” and on course for a bullish reversal.
Ethereum is trading at 0.0546 BTC ($3,469) at time of writing.
On the wider crypto market, Van de Poppe says,
“For the first time in many years, I’m very excited about the future of crypto. Many great technological advancements and breakthroughs are popping up for this cycle, through which I expect to see big mass adoption start occurring soon as well.
Pack your bags and just wait.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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