Cryptocurrency analyst and trader Michaël van de Poppe is optimistic about the future of altcoins in the crypto market. With Bitcoin (BTC) profits being redirected towards altcoins, van de Poppe believes that a bullish trend is on the horizon.
Van de Poppe, who has a substantial following on social media platform X, notes that many altcoins are currently trading at all-time lows against their Bitcoin pairs. This presents a significant opportunity for these altcoins to experience a substantial upward movement in the near future.
The trader explains, “Many of them need to go up 4x against Bitcoin to meet the levels of earlier this year. The altcoin markets have been in a bear market for the entire year. That’s insane!”
Van de Poppe predicts that the rally in altcoins will follow a surge in Bitcoin’s price. As Bitcoin breaks through its resistance levels and experiences a significant run, investors are likely to rotate their profits towards Ethereum and other altcoins.
At the time of writing, Bitcoin is trading at $99,169, with a marginal increase over the past two weeks. Ethereum, on the other hand, is trading at $4,010, showing a 22% increase over the same period.
In the Ethereum ecosystem, van de Poppe anticipates that the second-largest cryptocurrency will lead the rally, followed by large-cap altcoins based on the Ethereum network. He suggests that smaller-cap altcoins will also experience growth, with potentially higher returns on investment.
Looking ahead, van de Poppe believes that Ethereum will outperform Bitcoin in the next six to 12 months, further solidifying his bullish stance on altcoins.
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