A widely followed cryptocurrency analyst and trader believes that one top 15 altcoin project could more than double against Bitcoin (BTC).
Michaël van de Poppe tells his 686,300 followers on the social media platform X that the decentralized oracle network Chainlink will likely witness a massive breakout rally against Bitcoin (LINK/BTC) this year.
“Chainlink against Bitcoin is still looking for a big breakout later this year. Higher lows are being established, a breakout above 4,500 sats, and it’s going to go to 9,000 sats. I’m buying the dips.”
LINK/BTC is trading for 0.000336 BTC ($14.09) at time of writing, indicating an upside potential of about 167% if the pair hits the analyst’s target.
Next up, the trader says Bitcoin will likely trade within the range of about $49,000 and $39,000 before a breakout after the April halving event, when miners’ rewards are cut in half.
“I’ve not posted an update on this chart for Bitcoin in a while. It’s going pretty well as planned. Now, consolidation will likely occur before continuing to new all-time highs.”
The analyst also believes that the total market capitalization for digital assets is in an uptrend after testing a key support level at $1.547 trillion.
“Total market capitalization of crypto has taken the liquidity and bounced from the crucial area. It seems likely we’ll continue to $2 trillion in the coming period.”
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