Altcoins
Crypto Trader Michael Van De Poppe Highlights Runs in Solana, Meme Coins and Predicts “There’s Always an Altcoin Season”
April 30, 2024 10:45 a.m. | 2 minutes of reading |
Prominent cryptocurrency trader Michael van de Poppe in a recent podcast, he shared his thoughts on the next altcoin season and the importance of understanding market rotations to maximize returns.
What happened: Van de Poppe believes that by identifying opportunities in altcoins and strategically redirecting profits towards Bitcoin (CRYPTO: BTC), investors can outperform the market and maintain their purchasing power in the face of inflation. He underlines these strategies to generate higher returns.
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According to van de Poppe, the recent Bitcoin halved has sparked a potential rotation in the market, with altcoins showing signs of strength. He points his finger at Bitcoin (CRYPTO: BTC) dominance chart as a key indicator, noting that the current uptrend is longer than previous cycles, suggesting a potential shift towards altcoins.
“If you look at it from a Bitcoin perspective and a lot of Bitcoin maxis will probably say there won’t be an alt season, well, there’s always an alt season,” says van de Poppe, citing recent races in Solana (CRYPTO: GROUND), meme pieces and AI-related projects. Over the past year, Solana reported a 450% gain amid much talk of a “memecoin supercycle.”
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Why is this important: Van de Poppe also discusses the concept of market cycles, arguing that each cycle gets longer due to increased liquidity and the growing impact of mass adoption. He predicts that the current cycle could extend until 2026 or 2027, with Ethereum (CRYPTO: ETH) potentially leading among altcoins.
He recommends a strategic trading approach to capitalize on the upcoming altcoin season: identify altcoins that have already shown strength and are in an uptrend, then turn the profits into coins likely to follow. According to him, Bitcoin and Ethereum are still relatively undervalued compared to their upside potential.
He also notes Chain link (CRYPTO: LINK) is currently valued at its lowest point in the cycle, making it an attractive investment opportunity. If Chainlink breaks through the $27 resistance level and consolidates, it would be a good trigger to establish a heavy position.
And after: The influence of Ethereum And Bitcoin as an institutional asset class are topics that should be explored in depth at the next Benzinga conference The future of digital assets event on November 19.
Read next: Crypto Trader Describes His Technique to “Spot Altcoins Before a 100x Surge”
This content was partially produced using AI tools and was reviewed and published by Benzinga editors.
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