Ethereum

Covalent

Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analyst-predicts-altcoin-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Altcoin Surge</a><br></p>
<p style="text-align: justify">The cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> remains unpredictable with frequent price fluctuations bringing analysts’ insights into the spotlight. <a href="https://en.bitcoinhaber.net/wall-street-bull-tom-lee-forecasts-monumental-bitcoin-gains-in-2024" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s recent dip from $70,000 to $58,500 and its subsequent mild recovery have not deterred some experts from forecasting growth for certain lesser-known cryptocurrencies. One such analyst has highlighted the potential of an altcoin, Covalent (CQT), while expressing a less optimistic outlook for Bitcoin and Ethereum.</p>
<h2 id="focus-on-covalent-s-potential">Focus on Covalent’s Potential</h2>
<p style="text-align: justify">A widely recognized cryptocurrency analyst, Michaël van de Poppe, pointed to a <a href="https://newslinker.co/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">promising future</a> for Covalent, an AI token that currently ranks 346th by market capitalization. Despite its low trading volume, van de Poppe believes Covalent is poised for a significant price increase, especially after its recent updates.</p>
<p style="text-align: justify">Currently, Covalent is trading at $0.1549, having experienced a 3.83% decline. Its market cap stands at $124 million, with a trading volume dropping by 21% to below $1 million in the last 24 hours.</p>
<h2 id="what-lies-ahead-for-bitcoin">What Lies Ahead for Bitcoin?</h2>
<p style="text-align: justify">Van de Poppe also shared his views on Bitcoin, suggesting a potential decrease before an upward trend resumes. He mentioned that Bitcoin might revisit the $60,000 level, anticipating a reversal coinciding with the upcoming Ethereum ETF listing.</p>
<p style="text-align: justify">Bitcoin saw a 1.8% drop recently, with its price now at $60,695. Its market cap has fallen below $1.2 billion, and the 24-hour trading volume has risen by 3% to $23.4 billion.</p>
<h2 id="valuable-insights-for-investors">Valuable Insights for Investors</h2>
<p style="text-align: justify"><strong>Key Takeaways for Investors:</strong></p>
<ul>
 <li>Covalent (CQT) could see a significant price rise due to its latest developments.</li>
 <li>Bitcoin may face a short-term decline before potential growth, especially with the upcoming Ethereum ETF.</li>
 <li>Ethereum (ETH) holds significant support and may break out if it reaches 0.06 BTC.</li>
</ul>
<h2 id="result">Result</h2>
<p style="text-align: justify">Finally, the analyst analyzed Ethereum (ETH), suggesting it could outperform Bitcoin (ETH/BTC). He believes Ethereum is maintaining crucial support levels, and there could be substantial altcoin strength if ETH reaches 0.06 BTC ($3,690).</p>
<p style="text-align: justify">Currently, Ethereum is trading at $3,379 after a 2.11% drop over the past day.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analyst-predicts-altcoin-surge" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analyst Predicts Altcoin Surge</a></h5>

Analyst Predicts Altcoin Surge

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