Coin Edition -
- Crypto trader Michael van de Poppe uploaded his latest altcoin market analysis yesterday.
- In the video, Michael predicted that altcoins may begin to climb with the next BTC halving a year away.
- Traders might want to wait for BTC’s market dominance to reach 52.7% before looking to accumulate altcoins.
The renowned crypto trader and analyst Michael van de Poppe uploaded his latest analysis for the altcoin market yesterday. In the video, he shared when he believes it might be a good time to accumulate altcoins given that there has been a lack of correlation between altcoins and Bitcoin (BTC) in this bear market.
Although many altcoins have underperformed over the past few months, van de Poppe did highlight the standout performances seen by Pepe (PEPE), Arbitrum (ARB), and Injective (INJ) in the past few weeks. He also predicted that Sui (SUI) may present some interesting trade opportunities in the near future.
According to the trader, BTC’s market dominance may climb to the next resistance level at around 52.7% before dropping again. To achieve this, he added that BTC will need to break $30,000 first, which will then serve as BTC’s latest high before the next network halving event.
With the halving about a year away, van de Poppe believes that accumulating altcoins now could be a good idea since altcoins have historically risen just before each BTC halving. Leading up to the event, BTC trading pairs may become very undervalued, which will result in traders and investors shifting their capital toward altcoins.
The analyst also predicted that altcoins will experience a mini rally once BTC breaks $30,000 and the market leader’s dominance rises toward the aforementioned 52.7% resistance level. Shortly after this rally, van de Poppe expects one more correction to take place in the altcoin market.
Following this potential correction, he believes that BTC will climb as high as $42K-$45K. Investors and traders will then likely take some of the profits they generated from trading BTC and begin to pump altcoins.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
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