Bitcoin price continues to hover around $19,000 and $20,000. Small sales began to be observed in some altcoins. Some altcoins are also showing a strong stance, signaling a significant reversal. In this article, we will talk about 3 coins that analsites draw attention and that you can reach through Binance…
bullish prospect for bitcoin
cryptocoin.com The famous analyst Micheal de van Poppe, whom we have covered before, made important statements in his latest video. He said he believes next week will be decisive for the price of Bitcoin. While crypto markets are getting less attention these days, an uptrend is expected in the coming weeks. The analyst stated that since there is no major event that will affect the market in the near future, the markets expect stability.
He said that once it gains stability, the probability of resistance moving up or down for all crypto markets will be equal. Moreover, he stated that this will happen in two or three weeks. The analyst also pointed to several altcoins that will explode as the price of BTC moves upwards.
The analyst drew attention to NEAR and ADA on the Binance platform
Near Protocol has mostly been in decline since mid-July. Currently, its price has dropped below $3 due to bear market pressure since early September. Near is expected to break the $3.08 position after the recovery in its price. If this happens, the bulls are expected to push the price above $4. Otherwise, we could see the price below $2.5 in the coming days if the bear market continues.
Unlike Near, Avalanche continues by testing its support. According to the analyst, it has rebounded in every case it has tested bearish positions so far. In the next recovery, the price of the coin may try to break higher levels. In order for the rise to continue for a long time, the price must first increase from the $ 17 levels to above $ 20.
Cardano (ADA) is on the list of experts
Besides these two altcoins, another altcoin that analysts mentioned seems to be Cardano. Crypto analysis platform Santiment drew attention to the ratio of ADA’s market cap to realized value (MVRV) based on its data. It was stated that its market value is quite low compared to its realized value. “It expects its price to double in the next three months,” Santiment said. Then, the company used the following expressions in the tweet it shared:
Cardona is currently in its lowest position compared to its realized value since January 2019. This is a sign of undervaluation based on average trader losses. The price of ADA has doubled in the 3 months the MVRV Z-Score has reached this level.
📊 #Cardano now sits at its lowest relative position compared to its realized value since Jan, 2019. This is a sign of undervaluation based on average trader losses. $ADA's price doubled the following 3 months the last time its MVRV Z-Score hit this level. https://t.co/D8Bwk2GWEB pic.twitter.com/gnOuGVqqOq
— Santiment (@santimentfeed) October 22, 2022
Dan Gambardello, Founder of Crypto Capital Venture and host of the popular YouTube channel “Crypto Capital Venture”, also gave his long-term price target for Cardano (ADA). Gambardello said Cardano’s market value will be $550 billion. He stated that for this, the price should increase 15 times. He explained that he believes this price will be reached in the next bull cycle, perhaps in a few years.
$15 ➗ .42 = 35x
It’s really that simple for me.#Cardano $ADA
— Dan Gambardello (@cryptorecruitr) October 3, 2022
