Analyst Michaël van de Poppe predicts a crypto rally following disappointing economic data.
Economic Factors Driving Rally
Van de Poppe cites weak job market data, including rising unemployment and lower-than-expected wage growth, as signs that the Federal Reserve will loosen monetary policy. This, he believes, will boost risk-on assets like cryptocurrencies.
Altcoin Market Outlook
The analyst predicts a period of consolidation for altcoins before they rally to new highs. He identifies a support range of $880-$920 billion for the total altcoin market capitalization.
Return of Retail Traders
Van de Poppe anticipates the return of retail traders to the crypto market once altcoins show significant gains. He believes this will further fuel the rally.
Disclaimer
Opinions expressed in this article are not investment advice. Investors should conduct their own research before making any high-risk investments.
