Crypto Analyst Expects Massive Surge for Polygon Rival
Cryptocurrency analyst Michaël van de Poppe believes that Optimism (OP), a competitor of Polygon (MATIC), is poised for a significant price increase. Van de Poppe, who has a substantial following on social media, predicts that OP could surge by more than 55% in the near future. He points to the project’s use-case surrounding roll-ups as a major factor contributing to its potential growth. According to his chart analysis, OP might experience a temporary dip below $3 before rebounding and surpassing the $5 mark. At present, Optimism is trading at $3.22, representing a decline of over 6% in the past 24 hours.
Bitcoin Faces Potential Retest of Key Support Level
Van de Poppe also provides an update on Bitcoin (BTC) and suggests that it may retest a critical support level within its trading range. He notes that BTC failed to rally towards $46,000 and anticipates a dip towards the lower boundaries of the range between $38,000 and $48,000. The analyst advises investors to be prepared for negative sentiment and consider buying the dip. According to his chart analysis, Bitcoin could potentially drop to $38,000 before recovering and surpassing $42,000.
Bitcoin’s Contrary Performance
Van de Poppe cautions against relying solely on market sentiment when it comes to Bitcoin’s price movements. He cites previous instances where BTC defied expectations, such as its behavior following the approval of Bitcoin exchange-traded funds (ETFs). The analyst emphasizes the importance of buying the dip and not being swayed by prevailing sentiment. Currently, Bitcoin is trading at $41,151 with a decrease of 3.5% in the last 24 hours.
Hot Take: Crypto Analyst Expects Strong Surge for Optimism and Bitcoin’s Potential Retest
Cryptocurrency analyst Michaël van de Poppe believes that Optimism (OP) has the potential for a significant surge, possibly exceeding 55%. With its strong use-case surrounding roll-ups, OP could experience a temporary dip before reaching the $5 mark. Meanwhile, Bitcoin (BTC) may face a retest of its support level at $38,000 after failing to rally towards $46,000. Van de Poppe advises investors to consider buying the dip and not be swayed by market sentiment. While BTC currently faces negative sentiment, it could recover and surpass $42,000 in the future.
By
By
By