A well-known crypto analyst predicts that an altcoin with impressive gains in the past year is poised for further growth. Crypto strategist Michaël van de Poppe informs his large following on social media platform X that Mantra (OM), a decentralized finance ecosystem, is ready for another surge after experiencing a staggering 2,800% increase this year. Van de Poppe expects OM to perform even better in the future as the market shifts and real-world assets gain prominence.

Recently, Mantra secured a $500 million deal with UAE developer MAG, further solidifying its position. Currently trading at $1.29, OM has shown small incremental gains throughout the day. It is worth noting that OM was valued at only $0.018 in August of last year.

Moving on to Bitcoin, van de Poppe believes that as long as the cryptocurrency maintains its price level above $60,000, it will continue to grow. He notes that Bitcoin has been consolidating within a four-month range and points out that the rising price of gold and falling yields indicate a positive outlook for Bitcoin in the near future.

Van de Poppe also analyzes Bitcoin’s miner capitulation rate and hashrate drawdown, which measures the decline in the relative computing power of Bitcoin’s blockchain. Based on these metrics, he predicts that the next significant increase for Bitcoin will push its value to six figures, specifically $110,000. He highlights that the recent low in miner capitulation and hashrate drawdown mirrors the conditions before a 20% price rally following the Mt. Gox news.

As of now, Bitcoin is trading at $63,626, experiencing a slight decrease in the past 24 hours.

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