Altcoins To Regain Bullish Momentum – What About Bitcoin?

A well-known cryptocurrency expert has presented a possible scenario where the altcoin markets could experience a surge in prices after a period of stagnation.

The analyst, Michaël van de Poppe, shared with his 661,200 Twitter followers that if Bitcoin surpasses the important level of $30,000 and maintains it as a support level, it could trigger a rally in altcoins.

He also recommended waiting for a dip in Bitcoin’s price before attempting to reclaim the $30,000 level, after which altcoins could gain momentum for a while.

At the time of writing, Bitcoin is trading for $29,351.

The trader is monitoring the interoperable blockchain Cosmos (ATOM) and considering two potential scenarios for accumulating the 28th-largest altcoin by market cap.

According to Van de Poppe, he is only interested in buying above $10.50 or at $8, but not in between those prices.

The analyst has also updated his perspective on the decentralized oracle network Chainlink (LINK). In a new strategy session, Van de Poppe noted that Chainlink has been on a downtrend against Bitcoin (LINK/BTC) since May 2021.

However, he believes that the trend could reverse if it manages to stay above a certain threshold of BTC worth $6.73.

He stated that if the price remains above this threshold, there is potential for the trend to reverse and reach the range high of 0.0003950 BTC.

TechDev is closely monitoring global liquidity cycles. To illustrate this, TechDev is comparing the Chinese 10-year bonds (CN10Y) against the US dollar index (DXY).

The analyst also provides further information on global liquidity cycles by comparing the metric against the aggregate major central bank balance sheet, which tracks the money-printing activities of reserve banks worldwide.

According to a chart shared by TechDev, global liquidity seems to be on the verge of an uptrend, as major central banks are expanding their balance sheets.