Bitcoin plummeted from its all-time high two days after the launch of the first US bitcoin futures exchange-traded fund, causing cryptocurrency values to tumble today. Solana has risen almost 10% since yesterday, while bitcoin has lost about $5,000 in a single day.
The price of Ethereum has plummeted nearly 2% to $4,112. Cardano's price has dropped roughly 3% to $2.16, while dogecoin's price has dropped 3% to $0.24.
Despite Bitcoin's (BTC) recent ascent to new all-time highs and more volatility, crypto strategist and trader Michal van de Poppe believes a number of altcoins have a bright future.
In a new strategy session, the well-known trader begins by discussing his most recent analysis on Chainlink's native asset (LINK).
"If you want to get a position on this one, I believe Chainlink is still in the area of interest at this time." That's perfectly fine with me; it's just waiting for a breakout."
Next on the traders' list is Curve DAO Token (CRV), the asset that drives the automated market maker protocol of the same name.
In the short term, he expects the euro to trade sideways before resuming its upward trajectory.
Curve has been seeing a nice retest, a lovely structure in which we will most likely see continuation towards resistance here, before some minor consolidative phases into the area here, and then we will break out at some point later, according to him.
The Skale (SKL) decentralised application (DApp) protocol, which is supposed to help developers avoid Ethereum network congestion, is next examined by Van de Poppe.
Next month, he predicts, SKL will begin to rise.
We'll most likely see this breakout towards 1400 sats in November before the next, potentially final impulse wave on Skale, according to him.
The graph for The Graph, a decentralised blockchain indexer, is then examined by Van de Poppe.
GRT is also on his to-do list, he says. In recent months, it has underperformed, with only one impulse wave reported in 2021. However, he continued, if support holds and the market continues to produce higher lows, a breakthrough is almost inevitable.
The decentralised cross-chain liquidity protocol THORchain (RUNE), according to the crypto researcher, will post a higher bottom, signalling that another upward surge is on the cards.
"I'm assuming that when I see this big bounce back up, we'll grant ourselves some slight consolidation, grant ourselves a higher low, and then we'll resume."
Van de Poppe says he's sticking to his prognosis from early October in the instance of supply chain network VeChain (VET), predicting that the coin should fall below at least 0.00000148 BTC [0.094] before a long-term rally can commence.
"I'm still waiting for VeChain (VET) to hit those levels."
Disclaimer: The information provided here is for educational purposes only and does not constitute investment advice. Every investment and trade involves risk, you should always conduct your own research before making a choice. We do not advise investing funds that you cannot afford to lose.