Cryptocurrency analyst and trader Michaël van de Poppe predicts a bullish trend for altcoins. Van de Poppe informs his 748,300 followers on the social media platform X that altcoins are expected to rally as profits earned from investing or trading Bitcoin (BTC) are reinvested into the rest of the crypto ecosystem.
According to the well-known trader and analyst, most altcoins are currently at their lowest values compared to Bitcoin.
“This indicates that there is still a significant upward potential for these altcoins. Many of them need to increase four times in value against Bitcoin to reach the levels seen earlier this year. The fact that altcoin markets have been in a bear market for the entire year is astonishing.”
Van de Poppe further explains that the rally of altcoins follows a rally in Bitcoin.
“It is essentially a confidence-driven move where Bitcoin breaks through its resistance and experiences a significant surge. After that, it consolidates, and individuals who have made substantial profits from Bitcoin begin to rotate their investments towards other parts of the ecosystem such as Ethereum and altcoins.”
As of writing, Bitcoin is trading at $99,169, with a slight increase of less than one percentage point over the past 14 days. Ethereum (ETH) is trading at $4,010, showing an approximately 22% increase over the same period.
Regarding the Ethereum ecosystem, the respected analyst suggests that the second-largest cryptocurrency by market capitalization will rally first, followed by large-cap altcoins based on Ethereum.
“Smaller-cap altcoins will follow at a later stage, but the return on investment will be significantly higher.”
Van de Poppe predicts that Ethereum will outperform Bitcoin over the next six to 12 months.
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