Altcoins
Altcoins Set to Grow 10X, Ethereum to Hit $8K, Top Crypto Analyst Predicts!
Renowned cryptocurrency analyst Michael van de Poppe has predicted a significant rally in the altcoin market. After a correction that ended two weeks ago, van de Poppe predicts massive gains for altcoins and Ethereum. Could this be the start of a historic rally for cryptocurrency investors?
Altcoin Season Is On The Horizon
In a recent tweet, van de Poppe indicated that the market cap for altcoins has completed its correction phase, positioning itself for substantial growth. However, the analyst expects the second half of the year to see continued Altcoins on the uptrendHe expects significant gains, predicting that many altcoins could reach a value 5 to 10 times higher than their current value.
Meanwhile, this optimistic outlook is rooted in recent market trends and technical indicators, which suggest that altcoins are poised for a rally. The market cap of altcoins has stabilized, providing a solid foundation for future growth.
Maybe as from data from Blockchain CenterOnly 33% of the top 50 altcoins have surpassed Bitcoin (BTC) in the last three months. While this shows some positive movement, it is not enough to declare an altcoin season. To officially recognize an altseason, more than 75% of these altcoins must surpass BTC.
Ethereum will rise to $8k
Ethereum, the second largest cryptocurrency by market cap, is expected to play a significant role in this upcoming bull run. In the meantime, upcoming Ethereum ETF launch is expected to launch this week. However, the analyst believes that this will attract institutional investors and capital flows to ETH ETFs.
Furthermore, it predicts that Ethereum (ETH) could increase between $6,000 and $8,000. ETH is currently trading at $3,450, up 3.3%, with a market cap of $414 billion. This forecast is in line with the growing interest in upcoming Ethereum network upgrades and its growing use in decentralized finance (DeFi) and non-fungible tokens (NFTs).
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