Why might altcoins explode soon?

Wednesday 26 June 2024 ▪ 3 minute read ▪ by Mikaia A.

Despite the recent market turbulence, optimists firmly believe in a comeback for cryptocurrencies. As the market goes through a correction phase, some experts predict a strong comeback for altcoins, driven by solid fundamentals.

Signs of cryptocurrency recovery

Yesterday, Bitcoin showed encouraging signssuggesting a possible end to his free fall. This rebound has reignited hope among investors that the cryptocurrency market may be on the verge of a recovery.

This was highlighted by Michael van de Poppe, a renowned cryptographic analyst this fix may be the last before the new capital flows into altcoins.

Michael van de Poppe’s optimistic tweet about altcoins – Source:

Last week, the cryptocurrency market, with the exception of Bitcoin, retreated by 3%, while last month it fell nearly 10%.

However, altcoins such as Solana, Fetch.ai and Render Token are showing signs of potential spectacular rebounds, with expected increases of 500%, 650% and 300% respectively..

This Bitcoin turnaround could therefore signal a similar growth phase for these secondary cryptocurrencies.

Optimism for Altcoins

Despite the prevailing pessimism, Michael van de Poppe remains optimistic about the future of altcoinsStates CoinPedia. Note that the altcoin market cap is currently 50% below its 2021 all-time high.

With the recent correction amplifying their decline by 30%, the current situation could prepare the ground For a significant recovery.

History proves it to us Correction periods often precede impressive rallies. For example, Solana, Fetch.ai and Render Token have already seen spectacular increases in similar contexts.

Van de Poppe believes this trend could repeat itself, leading to a potential 100% increase in altcoins. This prediction is supported by solid fundamentals and reduced supply of some altcoins, suggesting that the worst may be behind us.

In conclusion, despite recent declines, cryptocurrencies could experience a major recovery. The question remains: will this return mark a new turning point for the cryptocurrency market?

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Mikaia A.

The blockchain and cryptocurrency revolution is underway! And on the day when the impacts are strong and the most vulnerable economy in the world is affected, against all hope, you will say that I was for what I chose

DISCLAIMER

The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.

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