Popular crypto analyst predicts prices of Ethereum (ETH), Chainlink (LINK), Avalanche (AVAX), Fantom (FTM), Litecoin (LTC), and Cosmos (ATOM) if Bitcoin price hit $35,000.
Michael van de Poppe in a tweet on February 28 shared that if Bitcoin price reaches the $35,000 level, other leading cryptocurrencies will also witness some higher levels. Typically, the crypto market moves in the direction in which Bitcoin moves due to its dominance in the crypto market. Bitcoin price determines the overall bullish or bearish price action in the market, but not always.
Bitcoin Price to $35K Scenario
Bitcoin price currently trades below the $23,500 level. The BTC price fell nearly 2%, making the 24-hour low and high of $23,205 and $23,611, respectively. The U.S. Core PCE inflation and pressure from the central banks around the world are the main reasons behind the recent retracement from $25,000.
Michael van de Poppe predicts Ethereum (ETH) price between $2,500-2,800 if Bitcoin reaches the $35,000 level. Currently, the ETH price trades at $1,636, down nearly 2% in the last 24 hours.
With the Ethereum Shanghai upgrade slated for March and general bullish sentiment on Ethereum to have a better price rally than Bitcoin, $2,500 looks fairly possible. The reason is, bulls will fully take over bears if Bitcoin crosses the 200-WMA at $25,100.
Further, he believes Chainlink (LINK) price will trade between $12-15. The LINK price currently trades at $7.37, down 1% in the last 24 hours. Notably, the price has been trading in the same range for a very long period.
Chainlink’s move to above $12 is supported by Chainlink’s Proof of Reserve system and Web3 solutions. Moreover, the partnership with the SWIFT cross-border payment system has been the highlight recently.
Michael van de Poppe predicts Avalanche (AVAX) price at $55-60 if the Bitcoin price hit $35,000. AVAX price decreased by 4% in the last 24 hours, with the price currently trading at $17.53. The price has jumped after a partnership with Amazon Web Services to fully supports Avalanche’s infrastructure and dApp ecosystem.
Fantom (FTM) price is predicted to reach $1.10-1.30. The FTM price currently trades at $0.4565, down 2% in the last 24 hours. The FTM price witnessed a major bullish momentum in the last 2 months due to the return of DeFi veteran and Fantom founder Andre Cronje.
He also predicts Litecoin (LTC) price to reach $185-210. The LTC price is currently trading at $95.82, up 1% in the last 24 hours. Litecoin is scheduled to undergo halving on August 3.
Lastly, Michael van de Poppe predicts Cosmos (ATOM) price at $22-25 if Bitcoin price hit $35,000. The ATOM price is trading at $12.57, down 3% in the last 24 hours.
Also Read: Vitalik Buterin Suggests Improvements On Ethereum Network
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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