Altcoin
“It’s the last chance to buy Altcoins at a super cheap price,” says the cryptocurrency expert
Michaël van de Poppe, a well-known cryptocurrency analyst and trader, works at the Amsterdam Stock Exchange and often shares his insights on various social media platforms, most notably X (formerly known as Twitter).
On June 10, 2024, Van de Poppe published a detailed analysis on X, highlighting that this could be the last chance to buy altcoins at super cheap prices. He noted that despite a strange bull market in which Solana performed exceptionally well and Bitcoin hit an all-time high before the halving and after the U.S. launch of Bitcoin spot ETFs, altcoins have remained silent.
Van de Poppe suggested that a turnaround for altcoins is very likely on the horizon. In his videos from the previous week he mentioned that he had exchanged his coins for newer coins and that he had gone all-in with altcoins over a month ago. Van de Poppe said his strategy has not changed and encouraged his followers to check out his recent YouTube video for more details on his strategy.
He argued that this is the right time to take more risks with everything happening globally. The crypto analyst pointed out that the European Central Bank (ECB) has announced a rate cut, which likely indicates that the Federal Reserve (FED) in the United States will do the same in the coming months, potentially leading to an increase in liquidity with the approach of quantitative easing. started.
Furthermore, Van de Poppe highlighted that the Ethereum spot ETF has been approved but not yet listed. He explained that the current situation is a void with no price action because the 19B-4 forms have been approved, but the S-1 forms have not. He drew a parallel with spot approvals of Bitcoin ETFs, which did not initially provide positive price action, but led to a significant bull run once trading began on exchanges.
Van de Poppe said that the current market situation is comparable to that of January this year, pointing out that altcoins have recently provided terrible returns. He predicted that once the Ethereum spot ETF starts trading in the U.S., likely late this month or early July, it will be a “sell the rumor, buy the news” event for the markets, with altcoins expected to rotate higher.
He believes the SEC’s approval of Ethereum spot ETFs is a significant validation for the entire blockchain and crypto ecosystem, potentially classifying many projects within the Ethereum ecosystem as commodities, thus increasing their potential. Van de Poppe highlighted that the majority of venture capital investments are directed towards the Ethereum ecosystem, which could lead to a revaluation of the market based on current information.
Reflecting on past events, van de Poppe noted that the initial trading of spot Bitcoin ETFs marked the peak of altcoins in their Bitcoin valuations, after which altcoins suffered significant losses. He suggested that the start of trading of US-listed Ethereum spot ETFs could mark the reversal of this trend, confirming that altcoins exist alongside Bitcoin.
The analyst pointed out that Bitcoin is at all-time highs, while Ethereum and other altcoins are significantly below their 2021 highs. He argued that spot Ethereum ETFs will likely attract substantial liquidity into the Ethereum blockchain from institutional investors, rekindling interest in the ecosystem.
He revealed that his portfolio is heavily invested in the Ethereum ecosystem, based on fundamental research and high-conviction tokens. Van de Poppe highlighted his transparency in sharing his purchasing and accumulation strategies.
He concluded addressing the recent hype around other assets such as BRC-20 and AI, expressing his preference to focus on undervalued assets. Van de Poppe acknowledged his past mistakes but remained confident in his investment approach, underlining his willingness to take risks in his portfolio.
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