A widely followed crypto analyst believes that a red-hot Solana (SOL) rival could soon post new all-time highs (ATHs).
Crypto trader Michaël van de Poppe tells According to his 729,500 followers on social media platform X, Sui (SUI) could rise more than 23% from its current value.
“Sometimes you have to remain patient. Shared this on SUI before and highlighted that level [at $1.79]. I got there and have a strong bounce of almost 10%. I think we will continue to head towards the highs on SUI and possibly reach $2.25-$2.50.”
SUI is trading at $2.03 at the time of writing, a gain of 134% since September 11, when it traded at $0.867. SUI’s all-time high of $2.17 was reached in March.
Then the analyst say that Bitcoin (BTC) may go much higher after recovering from Thursday’s dip to the $58,000 level.
“Bitco took over the liquidity and bounced up. It is trading above $60,000 and it is very likely that the correction is over. Once it breaks $62,300, things could move quickly. Buy the dip.”
The analyst too predicts There will be changes in macroeconomic conditions, including additional interest rate cuts by the Fed, which will lead investors to venture into riskier investments like Bitcoin.
“There is a huge bearish divergence on the US 2-year and 10-year yields every month. I expect it to fall further from now on as labor markets weaken. Most likely there will be quantitative easing (QE) and further interest rate cuts from November [leading to] risk now that BTC controls the markets.”
Bitcoin is trading at $62,286 at the time of writing, up more than 2% in the past 24 hours.
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Credit : dailyhodl.com
