Esteemed crypto trader and analyst Michael van de Poppe recently released his latest analysis on the altcoin market. In his informative video, he discusses the opportune moment to accumulate altcoins, highlighting the need for more correlation between these coins and Bitcoin (BTC) during the current bear market. As a professional in the field, van de Poppe’s insights provide valuable guidance for those looking to navigate the volatile world of cryptocurrency.
Despite the lackluster performance of several altcoins in recent months, there have been some notable exceptions. According to van de Poppe, Pepe (PEPE), Arbitrum (ARB), and Injective (INJ) have all demonstrated impressive growth in the past few weeks. Additionally, he anticipates that Sui (SUI) may offer promising trading prospects shortly. As always, it’s important to approach these opportunities with a professional mindset and carefully consider the risks involved.
As per the trader’s analysis, BTC’s market dominance is poised to ascend towards the next resistance level of approximately 52.7% before experiencing a subsequent dip. The attainment of this milestone, he suggests, hinges on BTC’s ability to surpass the $30,000 mark, which will serve as its latest peak before the upcoming network halving event.
As the halving looms on the horizon, van de Poppe suggests that accumulating altcoins at present could be prudent. This is because altcoins tend to surge in value before each BTC halving. As the event approaches, BTC trading pairs may experience a significant drop in value, prompting traders and investors to redirect their resources towards altcoins.
According to the analyst, a surge in altcoin activity is on the horizon once BTC surpasses the $30,000 mark and its market dominance reaches the 52.7% resistance level. However, this anticipated rally will be short-lived as van de Poppe foresees another correction in the altcoin market shortly after.
After a possible adjustment, the expert predicts that BTC will soar to $42K-$45K. As a result, investors and traders may opt to cash in on their BTC gains and shift their focus towards boosting altcoins.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
