Cryptocurrency analyst and trader Michaël van de Poppe is bullish on altcoins, predicting a rally in the coming months. Van de Poppe, who has a large following on social media, believes that profits from Bitcoin investments will flow into the altcoin market, driving prices higher.
He notes that most altcoins are currently trading at record lows against Bitcoin, indicating significant potential for growth. According to Van de Poppe, many altcoins need to increase by four times against Bitcoin to reach previous levels, presenting a lucrative opportunity for investors.
The trader suggests that the altcoin rally will follow a similar pattern to Bitcoin’s movement, with a surge in Bitcoin prices leading to a rotation of profits into other cryptocurrencies. Ethereum, the second-largest crypto asset, is expected to lead the rally in the altcoin market, followed by large-cap altcoins on the Ethereum network.
Van de Poppe emphasizes that smaller altcoins will also benefit from the rally, offering higher returns on investment. He predicts that Ethereum will outperform Bitcoin in the next six to 12 months, making it an attractive investment option for traders.
In terms of current prices, Bitcoin is trading at around $99,169, with a slight increase over the past two weeks. Ethereum, on the other hand, is trading at $4,010, showing a significant 22% gain over the same period.
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*Note: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.