Crypto Trader Doubles Down on One Ethereum-Based Altcoin, Calls It ‘Opportunity of a Lifetime’
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Popular crypto analyst Michaël van de Poppe is reiterating his conviction that Chainlink’s (LINK) current price is a rare opportunity for investors.
He tells his 629,900 Twitter followers that Chainlink’s current price remains an “opportunity of a lifetime,” doubling down on his bullish position for LINK.
“So far, so good for Chainlink. The price between $6-8 is still an opportunity of a lifetime.”
Chainlink’s native asset LINK is trading at $7.88 at time of writing. The 23rd-ranked crypto asset by market cap is up 1.47% in the past 24 hours. LINK hit an all-time high of $52.70 in May 2021.
Van de Poppe is also forecasting a rally in this fourth quarter for the king crypto.
“It’s time for a slight bounce on the DXY [US dollar index] and a correction on the crypto markets. But, more importantly, I’m expecting unemployment data to be bad on Friday and then indices should be continuing. Relief rally in Q4 is on the horizon for Bitcoin.”
Van de Poppe suggests that markets are responding positively to the impacts US federal rate hikes are having on unemployment data and job openings.
“Slowly, but surely, the US economy follows the rest of the world. Job openings largest miss in recent 15 years. ISM PMI [purchasing managers’ index] worst number since June 2020. Markets reacting positively, as Gold and Silver have been running up. Close to a big breakout for Bitcoin too.”
The trader forecasts a price consolidation of $19,600 for Bitcoin (BTC) and an increase to the next resistance level of $22,400.
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Featured Image: Shutterstock/issaro prakalung/america365
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