Altcoins
Check out her top coin picks
- Michaël van de Poppe sees Bitcoin’s sideways trend as a precursor to an impending altcoin season with the potential for significant price increases.
- Spot Ethereum ETF approvals in the US signal the start of a strong altcoin season, with the market expected to take off after S-1 filing approvals.
- Van de Poppe highlights altcoins like Optimism, Arbitrum and Woo X as top picks, each with high earning potential based on market and technology developments.
As Bitcoin trades sideways, some altcoins have rallied, primarily memecoins and some AI-related projects. Although most don’t yet consider this to be a true alternate season, analyst Michaël van de Poppe believes we’re on the cusp of one.
#Altcoin the season has started.
The coming months are going to be great.
– Michaël van de Poppe (@CryptoMichNL) June 2, 2024
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And he said we may not see current low prices again for some time.
This is the last easy time to buy cheap altcoins and it could be the last easy time for years to come.
According to van de Poppe, the partial approval of the US Spot Ethereum Exchange Traded Funds (ETFs) is a strong signal for the start of the altcoin season. Once the S-1 filings are approved, we should see the market take off in earnest, he added.
Approval of the S-1 filing, which will allow the funds to actually be traded, is expected in early July. So, enough time to potentially stock up on altcoin gems.
Here are the analyst’s top three Altcoins
Optimism (OP)
Van de Poppe admits that this may not sound exciting, but OP is a great choice due to the scalability and price of transactions on the network.
Ultimately, OP as a layer 2 blockchain is used daily and solves some of the scalability issues of Ethereum. It has great potential, especially when you measure performance against BTC, not USD.
A coin like Optimism can increase the value of BTC by 300-800% over the next six months.
Arbitration (ARB)
The ARB has had very poor results, he said, so you might think it’s an odd choice, but van de Poppe thinks it has even greater potential than Optimism. This is based on a wave of decentralized applications (dApps) being created and other infrastructure improvements.
As ARB has lost around 70% against BTC, the analyst believes that once it takes off, returns can easily be around the 250-350% mark.
Woo
The last of his picks is a slightly lesser-known project, decentralized exchange (Dex) Woo. Van de Poppe believes that Dexes are a good choice because they allow traders to trade more freely than on centralized exchanges.
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Woo also lost 70% of its value and the analyst believes that at least 300-800% gains are possible.
Of course, van de Poppe’s list is only a suggestion, so it’s reasonable to do your own research before pulling the trigger and committing funds. There’s also a guide on how to do just that, in our complete guide on How to Analyze Cryptocurrency Before Buying.