A well-known crypto analyst predicts that an altcoin with impressive gains in the past year will continue to rise. Michaël van de Poppe, a crypto strategist, informs his large following on X that Mantra (OM), a decentralized finance ecosystem, is preparing for another surge after achieving a remarkable 2,800% increase in value this year. Van de Poppe expects OM to perform even better in the future, given the shifting market dynamics and the growing interest in real-world assets (RWA).

In a recent development, Mantra secured a $500 million RWA deal with UAE developer MAG. At the time of writing, OM is trading at $1.29, showing a slight increase for the day. In August of the previous year, OM was worth $0.018.

Shifting focus to the king of cryptocurrencies, van de Poppe believes that as long as Bitcoin (BTC) can maintain its price above $60,000, it will continue to experience growth. He highlights that Bitcoin has been consolidating within a four-month range and suggests that it will eventually pick up momentum, considering the rising price of gold and falling yields.

Van de Poppe further analyzes Bitcoin’s miner capitulation rate and hashrate drawdown, which tracks the decline in the computing power of Bitcoin’s blockchain. Based on these metrics, he predicts that Bitcoin’s next surge will likely push it into six-figure territory, reaching $110,000. He notes that Bitcoin miners reached a bottom point of capitulation, and the True Hashrate Drawdown hit its lowest level on July 1st, comparable to the FTX collapse. Since the Mt. Gox news, Bitcoin’s price has already increased by 20%, indicating the potential for further growth.

At the time of writing, Bitcoin is trading at $63,626, showing a minor decrease in the past 24 hours.

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