Altcoin
Top analysts say this is the last chance to buy Altcoins at a 70% discount.
Cryptocurrency analyst Michaël van de Poppe watched his latest video and explained why now is the best time to buy altcoins while they are still cheap. He said many people have difficulty buying altcoins during a downtrend, but this is actually the easiest time to make a plan and invest. Currently, altcoins are undervalued and consolidating, and are expected to rise soon. He added that while it may seem risky to buy during a downtrend, this is when the best financial opportunities arise.
The analyst discussed the expected impact of the Ethereum ETF on the markets. He noted that before the launch of the Bitcoin ETF, the price of Bitcoin rose from $25,000 to $45,000, then corrected to $37,000 and after the ETF was listed, The price of Bitcoin it jumped to $73,000. Likewise, he expects Ethereum to hit new all-time highs following the approval of its ETF, expected in late June or July.
He stated that Bitcoin is often overvalued compared to Ethereum and vice versa. It is essential to look at the charts of various coins compared to Ether or Bitcoin. Solana, for example, is stable year-to-date, while Ethereum has seen slight gains versus Solana, which has fallen against Bitcoin.
In 2023, Solana has performed well, drawing funds from the Ethereum ecosystem thanks to traders seeking high returns. This success has extended to other tokens in the Solana ecosystem, such as Render, which grew significantly before plateauing. Likewise, AI tokens like Fetch have seen substantial returns but are now losing momentum, just like Solana.
Since then, Arbitrum and Optimism have suffered sharp declines The Bitcoin ETF share price, respectively down by 73% and over 60%. If Bitcoin remains stable and Ethereum’s momentum increases, a rotation into the Ethereum ecosystem could occur.