The market is set to show its final version of a breakneck bull run in the coming months.
The global cryptocurrency market cap turmoil nearing $1 trillion has sunk investors’ cryptocurrency wallets and now continues to put pressure on traders during crypto winter.
Despite having undergone several shake-ups, including CPI data and US stock market correlation, the extended crypto winter now appears to be bringing smiles to crypto users, as the market is ready to show its final version of a dizzying bull run in the coming months.
The major cryptocurrencies in the market are gaining ground for a major bullish rally: users and traders are now shifting their focus from the Fed’s recent 75bp interest rate hikes on Nov 2.
Bitcoin Price Analysis
According to a famous cryptocurrency analyst, Michael Van De Poppe, CEO, and founder of Eight Global, significant digital assets like Bitcoin and Ethereum could reach immense heights in the coming months.
The analyst has forecast the price target for specific cryptocurrencies, as the market shows a bullish recovery, despite the aggressive tone of the Fed’s decision to rein in the exponential rise in inflation.
Michael Van De Poppe is very bullish on Bitcoin, as he believes that Bitcoin could hit $30,000 soon. Looking at the daily price chart, Bitcoin has reached a weekly high of $21,480 and is currently hovering around the EMA-100 trend line with a value of $21,237.
A break above the upper limit of its Bollinger band at $22,500 could push Bitcoin to its strong resistance level of $25,000. The MACD line is also trading in a bullish region, which supports the current price movement.
Ethereum Price Analysis
Ethereum showed a significant bounce to the upside, as it broke out of its consolidated $1,400 zone. According to the analyst, the price of ETH could trigger significant spikes on the price chart, and reach $2,500 in just a few months.
Ethereum has steadily increased buying pressure in recent days due to the upcoming “Shanghai” upgrade. Ethereum is currently trading at $1,625 and is showing signs of further bullish momentum as the SMA-14 rises to the 64 level.
ChainLink Price Analysis
ChainLink is currently enjoying a huge surge on its price chart as it is up over 35% in the last two weeks and is currently trading at $8.6.
Michael Van De Poppe has predicted that the price of LINK could skyrocket by the end of 2022 and reach a high price level of $15.
BNB Price Analysis
Van De Poppe predicts that the Binance coin will generate a profitable return as it could hit the short-term target of $500.
BNB is currently trading at $350 and is targeting a breakout above the $402 price.
By Audy Castaneda
