Michael van de Poppe, a cryptocurrency analyst and trader, is bullish about altcoins.
Van de Poppe told his 748.300 followers via the social media platform X, that altcoins will rise as the profits from trading or investing in Bitcoin (BTC), are funneled into the entire crypto ecosystem.
Most altcoins have reached record lows compared to their Bitcoin counterparts, according to a widely-followed trader and analyst.
This means there is still an enormous upward trend to come from these altcoins. To reach the same levels as earlier in this year, many of these altcoins need to increase 4 times against Bitcoin.
Altcoins have experienced a downturn for most of the year. That’s insane!”
Van de Poppe says, in addition, that Bitcoin’s rally is the precursor to altcoins rallying.
Bitcoin has risen by a fraction of a percent in the last 14 days. Ethereum (ETH), at the time of this writing, is currently trading at $4.010, an increase of around 22 percent over the past 14 days.
The widely-followed analyst predicts that in the Ethereum ecosystem the altcoins based on Ethereum will be the first to rally, followed by the second largest crypto asset by capitalization.
Van de Poppe believes that Ethereum is likely to outperform Bitcoin in the next six-to-12 months.
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The post Altcoins primed for massive upward run, according to Crypto Analyst Michael van de Poppe-Here’s his outlook may be updated as new information becomes available.
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