Altcoins
Analyst predicts doubling of post-Bitcoin rally
Amid the recent bullish sentiment around the crypto market, investors and traders are predicting that altcoins will generate notable gains following Bitcoin’s rally.
Altcoins set to double after Bitcoin rally
Michael Van De Poppe, a well-known cryptocurrency analyst, sharing his ideas regarding altcoins with the community on the social media platform X (formerly Twitter). His predictions examine the potential for altcoins to rise in the near future.
Poppe began by pointing out that Altcoin’s market capitalization is currently “lagging behind” this recent market rally. However, he noted that this is what tends to happen when “investor strength is limited to Bitcoin alone.”
It is worth noting that in the past, altcoins generally performed poorly when Bitcoin controlled the market. But despite the tokens’ recent performance, Poppe’s optimism remains unwavering.
For this reason, the crypto analyst expects altcoins to rise 2x in the short term. However, according to the expert, the rise is expected to take place “once the BTC rally stabilizes.”
The message said:
Altcoin market cap is always lagging and this is usually what happens when the strength is surrounded only by Bitcoin. However, once Bitcoin stabilizes, it looks like we will likely have altcoin doubling potential ahead.
This hope comes from the idea that Bitcoin gains could be transferred to alternative currencies. When this happens, altcoins such as Ethereum (ETH)Cardano (ADA) and XRP will be positioned for significant gains.
Van De Poppe’s ideas sparked a wave of speculation within the community, with members expressing excitement over the predictions. A pseudonymous user replied saying it is “fascinating to see how the altcoin market cap ebbs and flows in the shadow of BTC.”
He further claimed that when BTC stabilizes, the 2x rise in value would be virtually inevitable. Furthermore, he asserted that the discerning observer will always be intrigued by the complex interplay between these assets.
Shifting Investments to Alternative Cryptocurrencies
Even though altcoins are currently struggling to gain adoption among investors and market traders, several analysts remain bullish on the tokens, predicting a notable increase in the landscape after The rise of Bitcoin has cooled down.
Poppe is just one of the crypto analysts bullish on these cryptocurrencies. Altcoin Rover, a crypto expert, also Express his optimism while noting a shift in investments towards these tokens.
According to the analyst, he will “sell his Bitcoin holdings to buy several altcoins” poised for notable growth. Rover also clarified the possibility of significant gains for altcoins after BTC surpassed its all-time high.
The expert highlighted a path that investors should follow that leads to “Breeding.” This path cited by Rover, which includes four distinct phases, almost never changes.
Featured image from Shutterstock, chart from Tradingview.com