Altcoins
Market Expert Says Altcoin Summer Is Fast Approaching, Here’s the Timeline
Cryptography expert Michel Van de Poppe recently predicted that altcoins would make significant upward movements. The analyst also provided a timeline for when this will happen and how parabolic the move could be for these crypto tokens.
Altcoins will take a step forward this summer
Van de Poppé mentioned in an X (formerly Twitter) job that altcoins are ready for their rise and will see lots of momentum from the end of June to September or October. The crypto analyst added that these altcoins will return to their normal values when this movement occurs, referring to the “big waterfall” they have undergone since the start of the year.
Van de Poppe has continued to hammer home for some time how undervalued altcoins are and previously predicted that they were going to make significant changes in their Bitcoin pair after the halving. At the time, he also predicted that there would be a narrative shift towards Ethereum and suggested that the second largest crypto by market would lead other altcoins into altcoin season.
The analyst also believes that the Spot ETF Ethereum could trigger this altcoin season once they start trading. This would explain why he predicted that the altcoin season would begin at the end of June since Eric Balchunas, analyst at Bloomberg predicted that these Ethereum ETFs would begin trading around this time.
Van de Poppe also revealed that he was well-positioned ahead of this altcoin season. He once mentioned that he had exchanged all his Bitcoin holdings for altcoins. In a recent Message, he also said that he had shifted his altcoin exposure to different altcoins with the aim of enjoying a higher return on investment (ROI). He claimed he was comfortable with his exposure and reiterated that there would be a “strong altcoin run.”
The analyst also provided some insight into what altcoins he might have accumulated when he listed ten undervalued tokens that he believes will succeed in this bull cycle. The tokens he listed included Chainlink (LINK), Celestia (TIA), Arbitrum (ARB), Polkadot (DOT), and Cosmos (ATOM), among others.
It’s time to position yourself before the Altcoin season
Crypto analyst Lark Davis recently mentioned that it “might be time to move down the risk curve” and position ourselves early for the altcoin season. He made this statement while discussing whether the altcoin season will begin soon. He shared data from the Blockchain Center, which showed that the market is still far from an altcoin season.
Blockchain Center has an altcoin season index that indicates whether or not it is altcoin season. Based on the index, it is only altcoin season when 75% of the 50 largest coins by market cap outperform Bitcoin over the last 90 days. So far, only 12 altcoins have outperformed Bitcoin during this period, meaning it’s Bitcoin season again.
Featured image created with Dall.E, chart from Tradingview.com