ETH to $8,000 while other alts 10x? Is this even possible?

-

Michael van de Poppe, a well-known crypto analyst shared he awaits a major rise in the altcoin market, because the correction ended two weeks ago.

Alt season baby! But he’s right?

The final countdown

Van de Poppe tweeted that the market cap for altcoins has finished its correction phase and is now set for growth, hopefully a big one.

He expects that the second half of the year will bring a steady uptrend for altcoins, and told that many altcoins can increase in price by 5 to 10 times.

eth
Source: X

Many thinks this is pure hopium, but fair to say, we already experienced gains like this, in the previous cycles.

Poppe’s positive outlook is based on the current market trends and technical indicators showing that altcoins are indeed ready for a rally. The altcoin market cap has stabilized, providing a strong base for future growth.

A man for all seasons

According to Blockchain Center data, only 33% of the top 50 altcoins have outperformed Bitcoin in the last three months.

While this means some positive movement, pessimists say it’s not enough to call it an altcoin season yet.

To declare an altseason, more than 75% of these altcoins need to do better than BTC. But they aren’t.

Ethereum is expected to play a big role in this upcoming bull run.

The launch of the Ethereum ETF is scheduled for this week, and the analyst believes this will attract institutional investors and more capital into the ETH ETF, like it did with Bitcoin.

Rise up

Van de Poppe predicts that Ethereum could rise to between $6,000 and $8,000. Right now, in the time of writing ETH is trading at $3,400, showing a 3% increase with a market cap of $414 billion.

This prediction aligns with the growing interest in Ethereum’s upcoming network upgrades and its increasing use in decentralized finance and non-fungible tokens.

Have you read it yet? Crypto crimes are rising in Australia


Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.

LATEST POSTS

New pan-African payment system gains support, but questions remain

The new Pan-African Payments and Settlements System, or PAPSS is generating much hype in Africa, with hopes of formalizing $50 billion in informal trade and...

ADA vs. LTC vs. VET: Are Cardano, Litecoin, and VeChain Solid Short-Term Investments Today?

The crypto market is experiencing a surge, with Bitcoin reaching new highs and altcoins following suit. The total market capitalization of cryptocurrencies, excluding Bitcoin, has...

Bitcoin isn’t overheated, no matter how loud the hype is

Bitcoin is on a roll, hitting new all-time highs this week, but analysts are saying it’s not showing any signs of overheating. Alex Thorn, head...

Ripple’s legal drama might end soon

With Donald Trump's recent victory in the U.S. presidential election, the crypto industry is buzzing with optimism, especially regarding Ripple's ongoing legal battle with the...

Most Popular

Guest posts