Michaël van de Poppe, a well-known cryptocurrency analyst and trader, is based at the Amsterdam Stock Exchange and frequently shares his insights on various social media platforms, particularly X (formerly known as Twitter).

On 10 June 2024, Van de Poppe posted a detailed analysis on X, emphasizing that this could be the last chance to buy altcoins at super cheap prices. He noted that despite a strange bull market where Solana has performed exceptionally well and Bitcoin has rallied to an all-time high pre-halving and after the U.S. launch of spot Bitcoin ETFs, altcoins have remained silent.

Van de Poppe suggested that a reversal for altcoins is very likely on the horizon. He mentioned in his videos from the previous week that he had swapped his coins towards newer ones and went all-in on altcoins over a month ago. Van de Poppe stated that his strategy has not changed and encouraged his followers to check out his recent YouTube video for more details on his strategy.

He argued that this is the right period to take more risks with everything happening globally. The crypto analyst pointed out that the European Central Bank (ECB) had announced a rate cut, which likely indicates that the Federal Reserve (FED) in the US will do the same in the coming months, potentially leading to increased liquidity as quantitative easing is initiated.

Furthermore, Van de Poppe highlighted that spot Ethereum ETF has been approved but not yet listed. He explained that the current situation is a vacuum with no price action because the 19B-4 forms have been approved, but the S-1 forms have not. He drew a parallel to the spot Bitcoin ETF approvals, which did not provide positive price action initially but led to a significant upward run once trading started on the exchanges.

Van de Poppe argued that the current market situation is comparable to January of this year, noting that altcoins have provided terrible returns recently. He predicted that once spot Ethereum ETF start trading in the U.S., likely later this month or early July, it will be a “sell the rumor, buy the news” event for the markets, with altcoins expected to rotate upwards.

He believes the U.S. SEC’s approval of spot Ethereum ETFs is a significant confirmation for the entire blockchain and crypto ecosystem, potentially classifying many projects within the Ethereum ecosystem as commodities, thus increasing their potential. Van de Poppe emphasized that most venture capital investments are directed towards the Ethereum ecosystem, which could lead to a market repricing based on the current information.

Reflecting on past events, van de Poppe noted that the spot Bitcoin ETFs’ initial trading marked the peak of altcoins in their Bitcoin valuations, after which altcoins suffered significant losses. He suggested that the start of trading of US-listed spot Ethereum ETFs could mark the reversal of this trend, serving as a confirmation that altcoins exist alongside Bitcoin.

The analyst pointed out that Bitcoin is at an all-time high, while Ethereum and other altcoins are significantly below their 2021 highs. He argued that spot Ethereum ETFs will likely attract substantial liquidity to the Ethereum blockchain from institutional investors, reigniting interest in the ecosystem.

He revealed that his portfolio is heavily invested in the Ethereum ecosystem, based on fundamental research and high-conviction tokens. Van de Poppe stressed his transparency in sharing his buying and accumulating strategies.

He concluded by addressing the recent hype around other assets like BRC-20 and AI, expressing his preference for focusing on undervalued assets. Van de Poppe acknowledged his past mistakes but remained confident in his investment approach, emphasizing his willingness to take risks in his portfolio.

Featured Image via Pixabay

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