Why could altcoins explode soon?

Wed Jun 26, 2024 ▪ 3 min read ▪ by Mikaia A.

Despite recent market turmoil, optimists strongly believe in crypto’s comeback. As the market goes through a correction phase, some experts are predicting a strong comeback for altcoins, driven by strong fundamentals.

Crypto Recovery Signs

Yesterday Bitcoin showed encouraging signssuggesting a possible end to his free fall. This rebound has revived hope among investors that the crypto market could be on the verge of recovery.

Michael van de Poppe, a renowned crypto analyst, pointed out that This correction could be the last before new capital flows into altcoins.

Optimistic tweet from Michael van de Poppe on altcoins – Source:

Last week, the cryptocurrency market, excluding Bitcoin, fell by 3%, while last month it fell almost 10%.

However, altcoins like Solana, Fetch.ai and Render Token are showing signs of potentially spectacular rebounds, with planned increases of 500%, 650% and 300% respectively.

This reversal in the fortunes of Bitcoin could therefore signal a similar phase of growth for these secondary cryptos.

Optimism for Altcoins

Despite the prevailing pessimism, Michael van de Poppe remains optimistic about the future of altcoinsStates CoinPedia. He notes that the market cap of altcoins is currently 50% below its 2021 all-time high.

The recent correction amplifying their decline by 30%, the current situation could pave the way For a significant recovery.

History shows us that Correction periods often precede impressive recoveriesFor example, Solana, Fetch.ai, and Render Token have already seen dramatic increases in similar settings.

Van de Poppe believes that this trend could repeat itself, leading to a potential 100% increase in altcoins. This forecast is supported by strong fundamentals and reduced supply of some altcoins, suggesting that the worst may be behind us.

In conclusion, despite recent declines, cryptos could see a major recovery. The question remains: will this return mark a new turning point for the crypto market?

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Mikaïa A.

The blockchain and crypto revolution is underway! And the day when the impacts are felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it

DISCLAIMER

The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.

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