Crypto analyst Michaël van de Poppe believes Chainlink (LINK) is set for a rally after a significant decline.
Historical Pattern Points to Bullish Trend
According to van de Poppe, LINK has historically experienced a bearish first six months followed by a bullish second six months. He expects this pattern to continue, leading to an uptrend in LINK/BTC by the end of the year.
Bullish Momentum on Daily Chart
Van de Poppe also notes a bullish pattern on the LINK/BTC daily chart. He emphasizes the importance of observing the Bitcoin pair of altcoins to determine their strength or weakness.
Other Altcoins Poised for Reversal
Van de Poppe predicts that other altcoins will also experience a bullish reversal soon. He points to the OTHERS/BTC chart, which tracks the market capitalization of all crypto excluding the top 10 assets, forming a double bottom pattern. This suggests that altcoins are approaching their lowest valuations in three years compared to Bitcoin.
