A New Era for Altcoins: Analyst Predicts Explosive Growth Against Bitcoin
A popular crypto strategist, Michaël van de Poppe, has made a bold prediction that altcoins are on the brink of a major surge, set to outpace Bitcoin (BTC) in the coming weeks.
Van de Poppe, with a substantial following of 786,000 on the social media platform X, shared his insights on the potential rally of altcoins. He pointed out that the altcoin market cap compared to Bitcoin (TOTAL3/BTC) chart is showing a bullish divergence, indicating a shift in momentum towards altcoins.
TOTAL3 tracks the total market cap of cryptocurrencies excluding Bitcoin, Ethereum (ETH), and stablecoins. A bullish divergence signifies increasing buying momentum despite prices moving sideways or lower.
According to Van de Poppe, “The altcoin market capitalization against Bitcoin is still massively bullish. The longest bullish divergence in history.”
When analyzing Ethereum, Van de Poppe believes that ETH has now turned bullish against Bitcoin (ETH/BTC), further supporting his thesis that altcoins will dominate the crypto market.
“The bullish divergence on ETH from three weeks ago indicated a potential reversal. The higher low was confirmed, and then, a massive breakout took place. The trend switch is clear. Now, this is a daily bullish divergence. On multiple altcoins, we see weekly divergences. Good times,” he stated.
At the time of writing, the ETH/BTC pair is trading at 0.0242 BTC, equivalent to $2,515.
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