Altcoins
Massive gains ahead, Ethereum at $7,000!
Crypto bulls, hold on tight!
Michael van de Poppe, a renowned analyst, predicts a sharp rise in the altcoin market, which could lead to historic gains for investors. After a recent market correction, van de Poppe expects significant growth in altcoins and Ethereum in the second half of 2024.
This is not wishful thinking. Here’s what’s behind this bold theory.
Why this prediction is important
The altcoin market cap has rebounded to $1 trillion, signaling a potential start to the long-awaited altcoin season in Q3 2024. The market has been waiting for this confirmation, and in the meantime, altcoins have shown signs of a possible price increase. While the Ethereum ETF is expected to lead this move, its performance has been less impressive so far.
In a recent article published on X, van de Poppe explained that the altcoin market cap has finished its correction phase and is now ready to grow. He believes that altcoins will continue to rise in the second half of the year, with many of them set to post significant gains. He also predicts a strong bull market, with Ethereum potentially reaching $7,000.
The potential of Ethereum Effect
Experts believe that the price of Ethereum could soon reach new highs, especially after the launch of the first-ever ETH spot ETFs in the United States. These funds are considered “significantly undervalued.” Despite record inflows of $1 billion into the ETFs, the market has not yet moved much. Van de Poppe predicts that these ETFs will have a significant impact on the Ethereum ecosystem, similar to Bitcoin ETFs.
A closer look at market trends
Recent market trends and technical indicators suggest that altcoins are poised for a rally. The market capitalization of altcoins has stabilized, providing a solid foundation for future growth. However, data from Blockchain Center shows that the current threshold is below 30%, and that only 11 of the top 50 altcoins have outperformed Bitcoin in the last three months. More than 75% of these altcoins need to outperform Bitcoin to officially declare an altcoin season.
Experts predict that Ethereum could surge to between $4,000 and $7,000. Currently, ETH is trading at $3,275, up 3.08% in the last 24 hours.
Is this finally the year altcoins shine? What are you keeping an eye on?