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Home»ALTCOIN NEWS»Trader Michaël van de Poppe updates Bitcoin outlook, says Ethereum competitor could surge more than 200% in a matter of months
ALTCOIN NEWS

Trader Michaël van de Poppe updates Bitcoin outlook, says Ethereum competitor could surge more than 200% in a matter of months

By Crypto FlexsSeptember 12, 20243 Mins Read
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Trader Michaël van de Poppe updates Bitcoin outlook, says Ethereum competitor could surge more than 200% in a matter of months
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A widely known cryptocurrency analyst predicts that a competitor to Ethereum (ETH) is on the verge of a massive breakthrough.

Cryptocurrency trader Michael van de Poppe told his 725,300 followers on social media platform X that NEAR Protocol (NEAR) could soar 275% from its current value within six months.

“The market is shaping up for a reversal. NEAR has retested a key area for support and looks likely to hold there. As long as $2.75-$3.40 holds, I expect to see $15 in the next 3-6 months.”

Source: Michaël van de Poppe/X

At the time of writing, NEAR is trading at $4, down 1.3% over the last 24 hours.

Next, the analyst suggests that Bitcoin (BTC) could soon reclaim the $60,000 range.

“Bitcoin invalidated my bearish setup and broke $56,000. I’d like to see how this scenario plays out. A bit of a retest of $55,000-$55,500, then a move up from here to $60,000-$61,000 next week. Looks good.”

video
Source: Michaël van de Poppe/X

As of this writing, Bitcoin is trading at $57,390.

Finally, the analyst suggests that the correction in the cryptocurrency market may be over and that a rally in many altcoins against Bitcoin could begin soon.

“Altcoins and Bitcoin have bottomed. A lot of altcoin pairs are crawling back up against Bitcoin and a lot of technical signals are showing that. This is going to be great. Congratulations. You endured the pain.”

However, he warned that a deeper correction could come first before ETH/BTC bounces.

“The ultimate farce of the cycle: ETH. The bullish divergence is unconfirmed. It’s starting to look really bad and I think we’re going to sweep the lows. If Bitcoin goes to $60,000-$61,000, ETH will fall below 0.04 BTC before there’s a chance of a reversal.”

video
Source: Michaël van de Poppe/X

At the time of writing, ETH/BTC is trading at 0.04081 BTC ($2,361), down more than 1% in the last 24 hours.

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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.

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