Altcoin
This cryptocurrency trader just sold all his Bitcoin for Altcoins like Cardano and XRP, here’s why
Cryptography expert Michaël van de Poppe recently revealed that he sold all his Bitcoin and rotated his capital into altcoins. The analyst explained the reason for this move and noted that she was doing it to acquire more of flagship cryptocurrency later.
Why This Analyst Swapped His Bitcoin For Altcoins
In an X (formerly Twitter) send, Van de Poppe explained that altcoins have been “crushed unreasonably hard.” Therefore, he believes that things can only get better from here on out, stressing that “the silver lining (for these altcoins) cannot be denied.”
Based on his explanation, the analyst suggested that these altcoins will likely be outperform Bitcoin from here on out as the flagship cryptocurrency has already had its moment before the halving when cryptocurrency natives traded their altcoins for Bitcoin. Before now, Van de Poppe had already predicted that altcoins would rebound in their Bitcoin pairs after the halving.
It also has mentioned then that there would be a narrative shift on Ethereum. More recently, he indicated that the news around Ethereum spot ETF it would trigger a rally for Ethereum and other altcoins. While explaining his decision to trade his Bitcoin, he again touched on the topic and hinted that Ethereum would be an integral part of any move made by these altcoins.
Van de Poppe said everyone is expecting the worst, that applications for the Spot Ethereum ETF will be rejected because the SEC considers the crypto token a security. Therefore, according to him, the market is already priced accordingly and can only recover from here on, even if the SEC ultimately rejects the requests.
The crypto analyst further said that markets could make a “significant U-turn” if the news ends up being slightly better than a rejection. He also highlighted other developments that could help trigger this move. One is the FIT invoice21, on which the House will vote soon. This bill is expected to provide regulatory clarity for digital assets in the United States.
Van de Poppe also noted that the The SEC’s lawsuit against Ripple is coming to a “final stage” and predicts that the cryptocurrency company will likely achieve a final victory, which could also help provide a notable boost to these altcoins.
Meanwhile he expects it Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA) will be “massive,” with traditional businesses moving to the Web3 ecosystem. Therefore, Van de Poppe urged his followers to “settle down” if they wanted to “make a great comeback”.
Van De Poppe’s big bet
It’s worth noting that Van de Poppe’s The decision to exchange his Bitcoin for altcoins is not an end in itself but a means to an end. The cryptocurrency expert hopes to achieve a return of between 300% and 900% on his investment in the next six to twelve months. Van de Poppe hinted that he would bring his capital back to him Bitcoin after this period and predicted that he could earn another return of between 300% and 600% on his investment as long as Bitcoin stabilizes.
He warned of the risk of such a bet, revealing that he is currently down around 20% on his overall investment. He also noted that considering these, he could still experience greater losses on his investment altcoins could still experience further declines from current price levels.
However, Van de Poppe added that he is fine with whatever the outcome of his investment is. Once again, he reiterated that he is “happily allocating” his entire sum capital towards altcoins and concluded by stating that the bull cycle will be “glorious”.
Chart from Tradingview.com