Bitcoin

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 A widely followed crypto analyst is keeping an eye on Bitcoin (BTC) and altcoins as the crypto markets rage.
 Crypto trader Michaël van de Poppe&nbsp;tells&nbsp;his 697,000 followers on the social media platform X that the altcoin markets are about to explode.
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 The analyst uses the blockchain data provider Covalent (CQT) as an example.
 “The rotation towards altcoins is likely going to happen.
 CQT is breaking out as we’re reaching a new yearly high.&nbsp;
 Has standard 20-40% dips -&gt; opportunities, but my expectations are that this is likely to continue to $0.75 in the coming period.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GHfrofrW0AA5S0L?format=png&amp;name=4096x4096" alt="" width="1063" height="499">
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 Source: Michaël van de Poppe/X
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 CQT is worth $0.373 at time of writing, up 3% in the last week.
 Next, the analyst&nbsp;predicts&nbsp;that the rising altcoin markets could push Ethereum (ETH) up to $5,000.
 “Altcoin market capitalization is slowly moving upwards.
 The upside could be captured on Bitcoin, meaning a rotation towards altcoins.
 Therefore, Ethereum to $4,500-5,000 is likely, while altcoins will accelerate with 2-4x returns.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GHfr_BJWQAAel8Z?format=png&amp;name=4096x4096" alt="" width="1063" height="499">
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 Source: Michaël van de Poppe/X
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 ETH is trading for $3,440 at time of writing.
 Finally, looking at BTC, the analyst&nbsp;predicts&nbsp;that if a Bitcoin pullback does occur, it could fall as low as $46,000.
 “Bitcoin manages to reach a $670 million net inflow.&nbsp;
 Mostly, this is coming through Blackrock’s ETF (exchange-traded fund) and interest.&nbsp;
 The price is $62,600, with insanely strong movements before the halving.
 What to look for?
 If a correction happens, I aim at $46,000 or $53,000 for longs.”
 <figure id="attachment_190710" aria-describedby="caption-attachment-190710" style="width: 100%" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="wp-image-190710 size-full" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GHfSxODWkAAIKXf?format=png&amp;name=4096x4096" alt="" width="1063" height="499">
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 Source: Michaël van de Poppe/X
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 BTC is worth $62,175 at time of writing.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-analyst-says-altcoins-are-on-the-rise-warns-of-possible-correction-for-bitcoin-tbt81227.html">https://thebittimes.com/crypto-analyst-says-altcoins-are-on-the-rise-warns-of-possible-correction-for-bitcoin-tbt81227.html</a>

Crypto Analyst Says Altcoins Are on the Rise, Warns of Possible Correction for Bitcoin

TheBitTimes

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