Crypto Analyst Reveals Cardano (ADA) Price Path; Bitcoin Supply Shock Around The Corner

There are all kinds of bullish predictions about the price of Bitcoin and other digital assets regardless of the market volatility.

There have been massive price moves for BTC and altcoins lately, but this does not seem to stop analysts from dropping bullish predictions about some of the digital assets.

Check out the latest ones involving the price of Bitcoin and Cardano.

It’s been just revealed that the crypto strategist and trader Michaël van de Poppe is keeping a close watch on ADA while predicting an incoming supply shock for Bitcoin.

Van de Poppe said that he sees ADA slightly correcting against Bitcoin (ADA/BTC) in order to build a base for the next leg up.

“Expecting continuation on Cardano to be happening here. BTC pair [is] doing well.”

He also said that ADA would consolidate at 0.000045 BTC support.

At the moment of writing this article, ADA is trading in the green, and the coin is priced at $2.40.

Regarding BTC, the analyst believes that the coin is due to print one more leg down on the lower timeframes before it ignites a rally close to resistance at $50,000.

“Bullish divergence is ready to be played out with Bitcoin while consolidating at support. A higher low would be beneficial for continuation towards $50,000.”

He had more to say about the liking coin, and you can check out his tweet below.

#Bitcoin exchange reserves are getting to very low levels.

That’s a signal that we’ve got more and more holders.

The inevitable is still about to happen -> heavy supply shock upwards in which we’ll get a big run to higher numbers.

— Michaël van de Poppe (@CryptoMichNL) September 13, 2021

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $46,004.31.

Stay tuned for more news.