The cryptocurrency market has entered a consolidation process after the strong rallies experienced recently. The leading crypto Bitcoin is still showing a strong performance despite falling below the $90,000 level. In the altcoin market, with a few exceptions such as XRP, a downward trend is generally dominant. However, analysts are making quite optimistic predictions for the future. An analyst with a wide following in the market states that an altcoin, which is Ethereum's layer-2 scaling solution, is preparing for a rally that will provide more than 200% gain. In addition, the analyst expects Bitcoin to reach $100,000 and predicts a correction afterward.

Michaël van de Poppe: This Altcoin Is Rising Towards ATH!

As you follow on Kriptokoin.com, there was a morale-boosting rally in the market with Donald Trump's potential election victory. Bitcoin briefly fell below $90,000 while advancing towards $100,000. However, analysts state that significant movements are still expected in the Bitcoin and altcoin markets. Popular analyst Michaël van de Poppe announced his latest predictions to his 736,000 followers on the social media platform X. The analyst made an important comment for Polygon rival Optimism (OP). If OP maintains critical support levels, it predicts that it could reach a new all-time high (ATH) at the beginning of 2024. Van de Poppe shared the following assessments:

“Volatility is rising. OP tested critical resistance but is down more than 20% in the last few days. If $1.80-$1.90 levels are tested again, I think we will break out to the upside and approach ATH in January.”

Meanwhile, OP is currently trading at $1.56, down about 7% on the day at the time of writing. OP’s all-time high is $4.84. It would need to rally 210% from its current price to surpass that level.

Bitcoin Heads Towards $100K, But…$BTC

Michaël van de Poppe also commented on Bitcoin (BTC). The analyst stated that BTC could reach a six-figure price tag by the end of next week. However, he predicted that all crypto markets could experience a major crash in the next few weeks, losing liquidity. Van de Poppe made the following statement on this subject:

"A really strong chart for Bitcoin. There was a significant rally after Trump's election. The real question is: Will we see $100,000 this week? We might. But it looks like there's going to be a flash crash in the markets in the next 1-2 weeks and it's going to drive down liquidity."

Bitcoin was trading at $89,168 at the time of writing, down 1.7% on a daily basis, but the leading cryptocurrency is up over 17% on a weekly basis.