Altcoin
Cryptocurrency expert Michaël van de Poppe updates his altcoin portfolio
After going all-in on altcoins four weeks ago, pro cryptocurrency trader Michaël van de Poppe shook up his altcoin portfolio, removing some cryptocurrencies considered underperformers replace them with better alternatives that could offer a better return on investment (ROI).
Indeed, van de Poppe explained that altcoins have suffered at the hands of the US Securities and Exchange Commission (SEC) approving the Bitcoin spot (Bitcoin) exchange-traded funds (ETFs), but that some of them offered opportunities for strong earnings, in a video streamed on his YouTube channel on June 6.
Altcoins out: ATOM and CRV
Specifically, one of the altcoins that the cryptocurrency expert has removed from his portfolio is Cosmos (ATOM), which he said was “fundamentally very strong but didn’t perform at all”, considering that “ATOM at this point saw a correction that was up to 50%. That’s a lot.”
Cosmos Price Action Analysis. Source: Michael van de Poppe
Additionally, as another example of a crypto asset to remove from his portfolio, van de Poppe singled out Curve (CRV), which recently “has also underperformed (…)”, “with a superweak performance.” and “keep going down” compared to Bitcoin AND Polygon (MATIC).
At the same time, he stressed that these “may not be bad projects (…) but they have substantially underperformed” and “I simply see less argument to have them in my portfolio given that they are already underperforming heavily in the last period”.
Altcoins in: SEI and TIA
On the other hand, the cryptocurrency market The analyst underlined that he wants to position himself “in coins that do not have these backholders, (…) will probably have a higher return because the repricing has not yet occurred” and that offer the opportunity cost of having them in his portfolio.
For example, one such altcoin with great potential, in his opinion, is Sei (SIX), which “saw a (…) price correction and subsequently rose to almost 8x compared to Bitcoin also due to the fact that Bitcoin entered into operation with the ETF.” As van de Poppe further pointed out:
“After that period, we basically went down, which means this is going to go back up again. I think this is very safe actually and it’s just collapsing due to the fact that the Bitcoin ETF came out so this is down approx. 70% since then and it’s fueling an opportunity.”
Furthermore, the cryptocurrency expert mentioned Celestia (TIA) as “another one that delivered exactly the same peaks in the week of Launch of the Bitcoin ETFis up 650% and corrected 75%,” reiterating his view that “these are substantial opportunities.”
Conclusion
All in all, van de Poppe is an experienced trader who has seen his share of gains and losses, risks and opportunities and is well aware of what he is getting into when trading cryptocurrencies, illustrating the importance of doing your research first to do any major invest decisions.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When you invest, your capital is at risk.
Watch the entire video below:
