A popular crypto analyst is predicting a big shift in the crypto market, suggesting altcoins are about to outperform Bitcoin.
Altcoins Ready to Shine?
Michaël van de Poppe, who boasts nearly 800,000 followers on X (formerly Twitter), believes the long period of altcoins underperforming Bitcoin is nearing its end. He’s basing this on the Bitcoin Dominance (BTC.D) chart, which tracks Bitcoin’s share of the total crypto market capitalization. A falling BTC.D indicates altcoins are gaining ground. Van de Poppe sees a bearish reversal signal on the weekly BTC.D chart, signaling a potential altcoin surge. He stated that the “bear market” (referring to altcoins underperforming Bitcoin) is ending.
Bitcoin’s Next Move
Regarding Bitcoin, Van de Poppe anticipates a potential minor correction before a continued rally. He expects Bitcoin to test a key support level before potentially reaching new all-time highs between $120,000 and $130,000. At the time of this writing, Bitcoin was trading around $109,112.
Ethereum’s Dip Could Be a Buying Opportunity
For Ethereum (ETH), Van de Poppe sees a potential dip to around $2,000 as a strong buying opportunity for long-term investors. He notes that a 10-20% correction would be normal and create a good entry point. ETH was trading at $2,663 at the time of this analysis.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
/p>
