As January begins, Bitcoin (BTC) shows relatively strong performance during the initial days of the year. With Donald Trump’s inauguration day approaching on January 20, there is optimism that positive news about cryptocurrencies will emerge from the White House. The question arises: What dollar value could POPCAT Coin reach? What price level must BTC maintain for altcoins to rise?
Price Targets for POPCAT Coin
POPCAT Coin has emerged as a popular altcoin in recent months, providing significant gains before experiencing a rapid decline. Influenced by BTC’s lackluster movements, POPCAT Coin appears to have found a bottom and is starting to show signs of recovery.
An analyst known by the pseudonym TraderSZ shared a chart indicating potential price targets for this popular altcoin. Given that a recovery seems underway and BTC remains relatively strong, there may be significant profit opportunities.
Currently at the threshold of $0.90, POPCAT Coin’s next target is $1.13. Following this, breaching the $1.36 level could pave the way for a return to the psychological resistance of $2.
Altcoins and BTC
When Bitcoin (BTC) experiences significant gains, altcoins often suffer from this pressure. For instance, even if BTC exceeds $90,000, many cryptocurrencies have not returned to their price levels from when BTC was at $69,000 in 2021. Some remain distant from the prices seen when BTC was at $45,000.
An analyst known as Altcoin Sherpa suggests monitoring a specific chart for a potential rise across cryptocurrencies, indicating the need for a favorable environment for altcoins.
“I believe this is still valid. I think the environment necessary for altcoins is being established,” he noted.
Ali Charts shared four charts, stating the following:
“BTC continues to remain at a critical point. This could indicate a retest of the 50-day MA before a potential drop. A sustained close above the 50-day MA is needed to confirm the end of the correction and validate bullish momentum.”
Currently, BTC continues to stay above $97,000, with a daily peak of $97,839, marking a solid level. Moreover, BTC remains relatively strong after the opening of U.S. markets, while altcoins have turned predominantly green.
