A prominent crypto analyst predicts that altcoins are on the verge of initiating a significant rally by the end of June.
In a fresh update, crypto trader Michaël van de Poppe shares with his 719,600 followers on the social media platform X that altcoins are gearing up for a surge back to their normal values.
“The altcoins are primed for an upward trend. I anticipate a surge in momentum from late June through September – October. A reevaluation back to their standard values following the significant downturn earlier this year.”
Van de Poppe also highlights the strength of three specific cryptocurrencies. He mentions that Bitcoin (BTC) is displaying indications of upward momentum and suggests that if the cryptocurrency can maintain the $70,000 price level, it may reach new all-time highs.
“The upward momentum of Bitcoin continues. Breaking past $70,000 is crucial, and holding this level is essential for further progress towards the all-time high.”
Bitcoin is currently priced at $71,595.
Shifting focus to Ethereum (ETH), Van de Poppe notes that the primary smart contract platform by volume stands to benefit from financial institutions receiving approval for their S-1 filings for ETH-based exchange-traded funds (ETFs) from the U.S. Securities and Exchange Commission (SEC).
“Ethereum is concentrating on establishing a higher low. I believe the approval of S-1 filings will lead to a robust upward movement and a higher low. It’s just a matter of exercising patience.”
Ethereum is currently valued at $3,847.
Concluding his assessment with the layer-2 scaling solution Polkadot (DOT), the analyst suggests that there is still an opportunity to accumulate despite the gradual increase in price.
“DOT is making significant progress in fundamental growth. Their focus on real-world assets (RWA) and partnership with projects like Centrifuge and Energy Web are commendable. Currently, the price is gradually rising, making it a favorable time to build up a position.”
Polkadot is currently trading at $7.28.
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Disclaimer: The opinions expressed by The Daily Hodl do not constitute investment advice. It is recommended that investors conduct thorough research before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. All transfers and trades are undertaken at your own risk, with any resulting losses being your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and is not an investment advisor. Additionally, The Daily Hodl engages in affiliate marketing.
