Cryptocurrency analyst and trader Mikael van de Poppe is bullish on one of the top 50 altcoins by market cap, while offering his views on Bitcoin (BTC) and Ethereum (ETH).
Starting with Stacks (STX), Van de Poppe tells his 738,800 followers on social media platform X that the Bitcoin project’s native Layer 2 token could rise by around 109% from current levels once the consolidation phase arrives. six months.
“Markets are waking up, which means you should be looking for projects that are ready to disrupt.
One of them is STX, which has been consolidating for over 200 days.
They successfully completed the Nakamoto upgrade. [a hard fork that was designed to, among others, improve the transaction speed]!
Break above $2.20 and the price should reach a new all-time high.”
At the time of writing, STX is trading at $1.85, down about 52% from its all-time high of $3.86 reached in early April.
As for Bitcoin, a widely followed trader says the cryptocurrency king’s price could reach $100,000 to $120,000 within the “next one to two months.”
“After that, the altcoin season began, just like in 2017.”
At the time of writing, Bitcoin is trading at $93,700.
Next is the Ethereum/Bitcoin (ETH/BTC) pair. According to Van de Poppe, the ETH/BTC pair will likely bottom next month after it fails to break above a key resistance level and if it continues to fall further.
“ETH failed to turn over the 0.036 BTC area and continues to fall.
We are waiting for support to be found. If this downtrend continues, we will likely see 0.03 BTC in December and then reverse.”
At the time of writing, Ethereum is trading at 0.03302 BTC ($3,094).
Generated image: Midjourney
