Analyst Michaël van de Poppe, who follows the cryptocurrency market closely, made an optimistic prediction about Chainlink (LINK). Poppe stated that LINK will rise against Bitcoin in the second half of the year and that this is based on a historical pattern.
The analyst emphasized that he observed an upward trend on the daily chart of the LINK/BTC parity, which shows the value of LINK against Bitcoin, and that LINK continues to exceed the peaks. He also stated that it is more important to watch the Bitcoin pair rather than the USDT pair when assessing the strength or weakness of altcoins.
Van de Poppe expressed his belief that not only $LINK but also other altcoins will rise. He drew attention to the bullish double bottom formation formed on the weekly chart of the OTHERS/$BTC parity, which shows the value of the OTHERS index, which represents the total market value of all altcoins except for 10 major cryptocurrencies and stablecoins, against Bitcoin. He stated that this formation shows that altcoins have reached their lowest valuations in the last three years compared to Bitcoin and that a new bull market for altcoins is on the horizon.
