Renowned crypto strategist and trader Michaël van de Poppe recently shared his insights on the top five altcoins that he is optimistic about in 2024. Dispensing his thoughts in a candid strategy video for his 162,000 YouTube followers, Van de Poppe’s selections are both insightful and bold.
Ethereum’s Rally Anticipation: A Move from Bitcoin to ETH
Van de Poppe kicks off his list with Ethereum (ETH), the smart contract platform he envisions as a key player this year. With Bitcoin’s substantial rally concluding 2023, the trader predicts a flow of funds from BTC to ETH. According to his chart analysis, he foresees ETH surging to surpass $3,400 later in the year, with the ETH/BTC pair establishing a market bottom at around 0.0491 BTC ($2,221).
The current trading value of the ETH/BTC pair is 0.05322 BTC ($2,377), suggesting a potential upward trajectory. Van de Poppe also speculates on the approval of a spot market exchange-traded fund (ETF) for Bitcoin, anticipating a similar nod for Ethereum, acting as a catalyst for an ETH rally. Furthermore, he highlights the market’s underpricing of ETH’s deflationary nature, resulting from its transition to a proof-of-stake consensus mechanism.
Arbitrum’s Bullish Pattern: A Layer-2 Scaling Solution
Van de Poppe’s second pick is Arbitrum (ARB), a layer-2 scaling solution exhibiting a bullish pattern against Bitcoin (ARB/BTC). With higher highs and higher lows, the ARB/BTC pair is currently trading at 0.0000393 BTC ($1.78). The trader’s chart analysis suggests a potential surge to 0.0000647 BTC ($2.93).
Optimism’s Correction and Bounce: Another Layer-2 Scaling Solution
The third altcoin on Van de Poppe’s radar is Optimism (OP), another layer-2 scaling solution. He anticipates a correction to the $2.78 range following a significant rally, with a subsequent bounce beyond the $4.50 level in the coming months. At present, Optimism is trading at $4.01, reflecting a 4.3% increase in the last 24 hours.
Chainlink’s Strength Against Bitcoin: A Decentralized Oracle Network
Chainlink (LINK) is the trader’s fourth choice, with the decentralized oracle network displaying strength against Bitcoin (LINK/BTC). The LINK/BTC pair is forming a bullish pattern of higher lows and higher highs. Van de Poppe closely watches for a breakthrough above the key resistance level at 0.000450 BTC ($20.36), signaling a potential massive breakout. Currently, LINK/BTC is trading at 0.0003472 BTC ($15.71).
Sui’s Potential: A New ETH Rival
Van de Poppe’s final pick is Sui (SUI), a newer Ethereum rival that he believes has the potential to perform as strongly as Fantom (FTM), Avalanche (AVAX), and Polygon (MATIC) did in 2021. As of the latest update, SUI is valued at $0.865.
In summary, Van de Poppe’s altcoin selections for 2024 reflect a mix of established players and promising newcomers, providing a diverse range of investment opportunities in the evolving cryptocurrency landscape.
