Altcoin
Explore his top coin picks
- Michaël van de Poppe sees Bitcoin’s sideways trend as a harbinger of an upcoming altcoin season with the potential for significant price increases.
- Ethereum Spot ETF approvals in the US signal the start of a strong altcoin season, with the market expected to take off following S-1 filing approvals.
- Van de Poppe highlights altcoins such as Optimism, Arbitrum and Woo X as top picks, each with high earning potential based on technological and market developments.
While Bitcoin has trended sideways, some altcoins have recovered, mainly memecoins and some AI-related projects. Although many do not yet consider it a real alternative to the season, analyst Michaël van de Poppe believes we are about to enter it.
#Altcoins the season has begun.
The next few months will probably be amazing.
— Michaël van de Poppe (@CryptoMichNL) June 2, 2024
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And he She said we may not see the current low prices again for some time.
It’s the last easy time to buy altcoins cheaply and it could be the final time for the next few years.
According to van de Poppe, the partial approval of Spot Ethereum Exchange Traded Funds (ETFs) in the United States it is a strong signal for the start of the altcoin season. Once the S-1 documents are approved, we should see the market definitely take off, he added.
Approval of the S-1 filing, which will see the funds actually exchanged, is expected in early July. So, enough time to stock up on some altcoin gems.
Here are the three main Altcoins according to analysts
Optimism (OP)
Van de Poppe admits it might not sound exciting, but OP is a great choice due to the scalability and price of transactions on the network.
Ultimately, OP as a layer 2 blockchain is used daily and solves some of Ethereum’s scalability issues. It has great potential, especially when measuring performance against BTC, not USD.
A coin like Optimism can increase between 300 and 800% of the BTC value in the next six months.
Referee (ARB)
The ARB has performed very poorly, he said, so you might think it’s an odd choice, but van de Poppe believes it has even more potential than optimism. This is based on a flurry of decentralized applications (dApps) being built and other infrastructure improvements.
Since ARB has lost around 70% against BTC, the analyst believes that once it takes off, returns can easily hover between 250 and 350%.
Woo X
The latest of his picks is a slightly lesser-known project, the decentralized exchange (Dex) Woo. Van de Poppe believes Dexes are a good bet because they allow traders to trade more freely than centralized exchanges.
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Woo is also down 70% in value and the analyst believes gains of at least 300 to 800% are possible.
Of course, van de Poppe’s list is only a suggestion, so it makes sense to continue your research before pulling the trigger and committing funds. There’s even a guide on how to do exactly this, in our comprehensive guide on How to analyze cryptocurrency before purchasing.