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First Mover Asia: Markets in Wait-and-See Mode; Bitcoin Hovers Around $57K

First Mover Asia: Markets in Wait-and-See Mode; Bitcoin Hovers Around $57K

As the crypto markets move through a period of largely sideways price action, popular strategist and trader Michaël van de Poppe is offering predictions for a number of popular cryptocurrencies.

The crypto analyst tells his 513,000 Twitter followers that he believes Bitcoin (BTC) will top out at $350,000 to $450,000 when the current market cycle ends.

He sees Ethereum (ETH) landing in the $10,000 to $17,500 range, with Polkadot (DOT) and Chainlink (LINK) both reaching approximately $250 to $350.

Van de Poppe predicts Cardano (ADA) will reach the $10 to $20 region, Zilliqa (ZIL) will end up between $5.00 and $7.00 and Elrond (EGLD) will hit $1,500 to $1,750. Last on his list is DIA, with a prediction of $50 to $75.

Van de Poppe is also outlining his approach to Bitcoin as the king crypto remains under $60,000, plus when he thinks it’s the right time to buy into altcoins.

“It’s very simple. Below $60K I’ve remained cautious/bearish as I’d like to see that area flip.

Levels to watch for buys; $53K-54K zone and $47-50K zones for Bitcoin.

When to buy altcoins? December. Nothing has changed past weeks.”

The analyst next considers a more bearish scenario for BTC below $56,000. He plots out how Bitcoin could dip below $50,000 and range until a breakout from February into March of 2022.

“Still a scenario for Bitcoin if $56K is lost.”

Van de Poppe concludes his analysis by looking at Cardano on the Bitcoin chart. According to him, 2350 satoshis is an important baseline on the ADA/BTC trading pair, with a potential breakout above 3000 sats a few months down the road.

“Very simple with Cardano.

We’re copy/pasting the structure of 2020 in which it corrects heavily in Q2 of the year.

Assuming that a flip of green would be a trigger or a test at 2350 sats.”

At time of writing, the crypto assets on Van de Poppe’s prediction list are priced as follows:

Bitcoin (BTC): $56,737Ethereum (ETH): $4,505Polkadot (DOT): $35.78Chainlink (LINK): $24.59Cardano (ADA): $1.70Zilliqa (ZIL): $0.08Elrond (EGLD): $359DIA (DIA): $1.81Check Price Action Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix  Check Latest News Headlines  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 loses 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.

Featured Image: Shutterstock/KHIUS/Vladimir Sazonov

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from:

coindesk.com
date of publication icon 03 Dec 2021 icon of time needed to read the article 3 min read
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