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Home»ALTCOIN NEWS»Crypto analysts say altcoins are on the rise and warn of a possible correction for Bitcoin.
ALTCOIN NEWS

Crypto analysts say altcoins are on the rise and warn of a possible correction for Bitcoin.

By Crypto FlexsMarch 1, 20242 Mins Read
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Crypto analysts say altcoins are on the rise and warn of a possible correction for Bitcoin.
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A widely respected cryptocurrency analyst is keeping an eye on Bitcoin (BTC) and altcoins as the cryptocurrency market rages.

Cryptocurrency trader Michaël van de Poppe says 697,000 followers on social media platform

The analyst uses blockchain data provider Covalent (CQT) as an example.

“A rotation into altcoins is likely to occur.

CQT is breaking out, hitting new yearly highs.

There is a standard 20-40% downside -> opportunity, but we expect it to remain at $0.75 in the coming period.”

Source: Michaël van de Poppe/X

CQT is worth $0.373 at the time of this writing and is up 3% in the past week.

Next is the analyst predict The rising altcoin market could push Ethereum (ETH) up to $5,000.

“Altcoin market capitalization is slowly rising.

The uptrend could be captured in Bitcoin, which would imply a rotation into altcoins.

So Ethereum is likely to hit $4,500-$5,000, with altcoins accelerating to 2-4x returns.”

Source: Michaël van de Poppe/X

As of this writing, ETH is trading at $3,440.

Lastly, looking at analyst BTC: predict If Bitcoin falls, it could fall to $46,000.

“Bitcoin reached net inflows of $670 million.

This is mostly achieved through BlackRock’s ETF (Exchange Traded Fund) and interest.

The price is at $62,600 and is showing an incredibly strong move ahead of the halving.

What should you look for?

If a correction occurs, we target $46,000 or $53,000 to buy.”

Source: Michaël van de Poppe/X

As of this writing, BTC is worth $62,175.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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