Altcoins
This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here’s Why
Cryptography expert Michaël van de Poppe recently revealed that he had sold all of his bitcoins and moved his capital to altcoins. The analyst explained the reason for this move and noted that he was doing it to acquire more flagship cryptocurrency later.
Why This Analyst Traded His Bitcoins For Altcoins
In an X (formerly Twitter) jobVan de Poppe explained that altcoins have been “crushed unreasonably,” so he believes things can only get better from here, noting that “the upside (for these altcoins) cannot be denied.”
Based on his explanation, the analyst suggested that these altcoins will likely surpass Bitcoin from now on, as the flagship crypto has already had its moment before the reduce by half when crypto natives traded their altcoins for Bitcoin. Prior to this, Van de Poppe had already predicted that altcoins would surge in their Bitcoin pairs after the halving.
He also has mentioned at the time, there would be a shift in narrative towards Ethereum. More recently, he indicated that the news around the Ethereum Spot ETF This would trigger a rally for Ethereum and other altcoins. In explaining his decision to trade his Bitcoin, he brought this up again and implied that Ethereum would be key to any movement in these altcoins.
Van de Poppe said that everyone is expecting the worst, which is that the Ethereum Spot ETF applications will be denied because the SEC considers the crypto token a security. Therefore, he believes that the market is already valued accordingly and can only recover from here, even if the SEC ends up rejecting the applications.
The crypto analyst also claimed that markets could make a “significant reversal” if the news ends up being slightly better than a rejection. He also pointed out other developments that could help trigger this move. One of them is the FIT21 Billwhich the House will vote on soon. This bill is expected to provide regulatory clarity on digital assets in the United States.
Van de Poppe also noted that the SEC Lawsuit Against Ripple is reaching a “final stage” and predicts that the crypto company will likely achieve a final victory, which could also help give these altcoins a major boost.
In the meantime, he expects that Decentralized Physical Infrastructure Networks (DePIN) and real-world assets (RWA) will be “massive,” with traditional businesses transitioning to the Web3 ecosystem. That’s why Van de Poppe urged his supporters to “allocate” if they wanted to “get a big return.”
Van De Poppe’s big gamble
It is to highlight that From Poppe The decision to swap his Bitcoin for altcoins is not an end in itself, but a means to an end. The crypto expert hopes to achieve a return of 300 to 900 percent on his investment in the next six to twelve months. Van de Poppe hinted that he would rotate his capital into Bitcoin after this period and predicted that he could make another 300-600% return on investment as long as Bitcoin Stabilizes.
He warned against the risk of taking such a gamble, revealing that he has currently lost about 20% of his overall investment. He also noted that he could still incur further losses on his investment, given these factors. altcoins could still experience further declines from their current price levels.
However, Van de Poppe added that he was happy with the outcome of his investment, whatever it was. He reiterated that he “gladly allocates” his entire capital to altcoins and concluded by saying that the bull cycle will be “glorious.”
Chart from Tradingview.com