Michaël van de Poppe Predicts a Bright Future for RWA-Focused Altcoin Mantra (OM) and Bitcoin (BTC)

A prominent cryptocurrency analyst is making waves with bold predictions about a high-flying altcoin and Bitcoin's future performance.

Prominent cryptocurrency analyst Michaël van de Poppe has shared his latest market insights on the high-flying altcoin and Bitcoin’s future performance.

In a recent development, van de Poppe, who boasts a massive following on X (formerly Twitter), highlighted significant updates for the decentralized finance (DeFi) ecosystem token Mantra (OM) and the flagship cryptocurrency Bitcoin (BTC).

Highlighting Mantra’s impressive rally, which has seen the altcoin soar by 2,800% year-to-date, the analyst shared an update with his 722,300 followers. At the time of his last update, van de Poppe noted that Mantra was up nearly 30%.

As OM’s price action aligns with expectations amid growing interest in real-world assets (RWA) within the DeFi space, van de Poppe points to recent news of a substantial $500 million RWA deal between Mantra and UAE developer MAG, a move that has further bolstered its market presence.

With OM trading at $1.29 at the time of writing, up from just $0.018 in August 2023, van de Poppe remains optimistic about the token's performance as the DeFi market and new narratives continue to unfold.

Shifting his focus to Bitcoin, van de Poppe offers a cautiously optimistic outlook, noting that Bitcoin’s performance will be promising if it can maintain a price level above $60,000.

Highlighting Bitcoin’s consolidation within a range over the past four months, the analyst points out that as long as the cryptocurrency can hold above this critical threshold, he expects it to continue climbing.

Attributing this potential upward movement to several factors, including the recent all-time high in gold prices and falling yields, which could drive more investment into Bitcoin, van de Poppe also examines Bitcoin’s miner capitulation and hashrate drawdown.

According to the analyst, the True Hashrate Drawdown, which measures declines in mining power, is currently at a low point similar to the levels seen during the FTX collapse. This metric suggests a cycle low, which historically precedes significant price increases.

With news about Mt. Gox’s repayments and Bitcoin’s price having already rallied by 20%, van de Poppe believes that the next major leg up could propel Bitcoin to $110,000.

At the present moment, Bitcoin is trading at approximately $63,626, experiencing a slight decrease over the last 24 hours.

Despite this recent dip, van de Poppe’s analysis suggests that Bitcoin’s trajectory remains positive as long as it can stay above the $60,000 mark.

Michaël van de Poppe’s latest insights present an optimistic outlook for both Mantra and Bitcoin. As Mantra (OM) showcases exceptional growth and promising future potential, and Bitcoin is poised for potential gains if it maintains its current levels, the cryptocurrency market continues to display dynamic and exciting opportunities for investors.

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