Bitcoin And Ethereum Are On Of A Massive Cycle While FTM Is Up 130%

Key Points:

• A crypto trader stated that Bitcoin (BTC) could be at $200,000 or more while Ethereum (ETH) is being adopted everywhere.
• ETH competitor Fantom (FTM) and the ETH layer-2 solution Polygon (MATIC) are now taking off.

According to a well-known cryptocurrency expert, the next “big cycle” for Bitcoin (BTC) and Ethereum (ETH) is just getting started.

Michaël van de Poppe, a crypto trader, stated that conscious-crypto people will all be laughing at current BTC and ETH values in a few years, saying Bitcoin (BTC) could be at $200,000 or more while Ethereum (ETH) is being adopted everywhere.

Fun thing is, in a few years from now we'll be laughing at the current valuations.#Bitcoin at $200K or more, #Ethereum being adopted everywhere.

We're on the start of such a massive cycle.

— Michaël van de Poppe (@CryptoMichNL) January 26, 2023

In the immediate termination of ETH, Van de Poppe expects Ethereum will trade in the $1,450-$1,600 region.

At the time of writing, ETH is trading at $1,579 which is up over the last 7 days, as per the data by Coinmarketcap.

In terms of the king cryptocurrency BTC, the analyst says he’s not interested in going long at the present price levels, adding Bitcoin smashes through and tries the $23.6K mark, only to be rejected.

Question today will be whether GDP will push price towards new highs again or we’ll go sub $22.9K, which means lower prices to come.

At the time of writing, BTC is trading at $22,964 USD, increasing by 9.64% over the past seven days.

Moving on to altcoins, Van de Poppe claims that the ETH competitor Fantom (FTM) and the ETH layer-2 solution Polygon (MATIC) are now taking off.

In fact, FTM is currently trading at $0.4595, up 130% since January 1, 2023. Meanwhile, MATIC increased by 42% throughout that period of time.

Van de Poppe highlights some of the hypocrisies in trading psychology, citing FTM, MATIC, and Aptos (APT) as examples, with FTM and MATIC outperforming most of the markets.

People are so eager to rush into positions on $APT, $FTM and $MATIC right now. However, a month ago the same people were so eager to sell all their #crypto as we would go to $10k.

At the time of writing, Aptos is trading for $17.87, up 409% over the past 27 days.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Thana

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