Cryptocurrency analyst and trader Michaël van de Poppe is optimistic about the altcoin market correction potentially coming to an end in the early weeks of 2025. In a recent video update, Van de Poppe shared his insights with his large YouTube following, predicting a bullish reversal on the weekly TOTAL3 chart.
The TOTAL3 chart tracks the market capitalization of all cryptocurrencies excluding Bitcoin (BTC), Ethereum (ETH), and stablecoins. According to Van de Poppe, the altcoin market has experienced a significant run, surpassing all-time highs before entering a correction phase. He anticipates this correction to wrap up soon, possibly by January, with a potential rotation back up in the market.
On the technical side, Van de Poppe pointed out that Ethereum against Bitcoin (ETH/BTC) is showing signs of entering an uptrend. Additionally, he highlighted the growing interest and accumulation of certain altcoins like Optimism (OP) against Bitcoin, as evidenced by increasing trading volumes. This accumulation indicates a strong investor interest, suggesting a potential undervaluation in the Ethereum ecosystem.
As of the time of writing, OP/BTC is trading at 0.00002051 BTC ($2.01), marking a 5.83% increase in the last 24 hours. Meanwhile, ETH/BTC is trading at 0.03675 BTC ($3,606), with a 3.23% increase in the same period.
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In conclusion, Van de Poppe’s insights provide valuable information for investors and traders looking to navigate the altcoin market. As the market correction potentially nears its end, savvy investors may find opportunities in undervalued assets like Ethereum and promising altcoins like Optimism. Stay tuned for more updates and analysis from industry experts like Michaël van de Poppe to stay ahead in the dynamic world of cryptocurrency trading.