A popular crypto analyst is predicting a significant upswing for altcoins, forecasting they’ll significantly outperform Bitcoin.
Altcoin Market to Explode
Michaël van de Poppe, who boasts a large following on X (formerly Twitter), sees a major bullish trend on the horizon for altcoins. He points to a bullish divergence in the altcoin market cap versus Bitcoin, suggesting strong buying pressure despite relatively flat or slightly declining prices. This divergence, he claims, is the longest in history. The analyst is focusing on TOTAL3, which tracks the total market cap of crypto excluding Bitcoin, Ethereum, and stablecoins.
Ethereum’s Bullish Turn
Van de Poppe also highlights Ethereum (ETH) as a key indicator. He believes ETH has definitively shifted to a bullish trend against Bitcoin, further reinforcing his altcoin prediction. He cites a bullish divergence three weeks prior that signaled a potential reversal, followed by a breakout. He states that the trend change is clear, with both daily and weekly bullish divergences visible across multiple altcoins.
What This Means
Currently, ETH is trading around $2,515. Van de Poppe’s prediction suggests a period of strong growth for altcoins, lasting several weeks. However, it’s crucial to remember that this is an analyst’s prediction and not financial advice. Always conduct thorough research before making any investment decisions in the volatile cryptocurrency market.