Altcoins
Massive gains ahead, Ethereum at $7,000!
Cryptocurrency bulls, hold on tight! Renowned analyst Michael van de Poppe is predict a massive surge in the altcoin market, potentially marking a historic run for investors. After a recent correction, van de Poppe anticipates explosive gains for altcoins and Ethereum in the second half of 2024.
This is not wishful thinking. Here’s what’s behind this bold theory.
Altcoins Are About to See Massive Gains
The altcoin market cap has rebounded to $1 trillion, signaling a positive shift towards the much-anticipated altcoin season in Q3 2024. For weeks, the broader market has been on edge, waiting for confirmation of this season. During this period, altcoins have shown signs of a potential price rally. While the Ethereum ETF was expected to lead this charge, its response has been disappointing.
In a recent X-post, Van de Poppe noted that the altcoin market cap has completed its correction phase, positioning itself for substantial growth. He predicts a continued uptrend for altcoins in the second half of the year, with many altcoins expected to see spectacular gains. He also predicts a massive bull market, with Ethereum potentially reaching $7,000.
The potential of Ethereum
Analysts believe that the price of Ether could reach all-time highs in the coming months after the launch of the first ETH spot ETFs in the United States. Traders consider these funds to be “significantly undervalued.” Despite record inflows of $1 billion into the ETFs, the market did not move immediately. Van de Poppe predicts a significant effect on the Ethereum ecosystem similar to that of Bitcoin ETFs.
A closer look at market trends
Recent market trends and technical indicators suggest that altcoins are poised for a rally. The market capitalization of altcoins has stabilized, providing a solid foundation for future growth. However, data from Blockchain Center shows that the current threshold is below 30%, and that only 11 of the top 50 altcoins have outperformed Bitcoin in the last three months. More than 75% of these altcoins need to outperform Bitcoin to officially declare an altcoin season.
Experts predict that Ethereum could see a massive surge between $4,000 and $7,000. Currently, ETH is trading at $3,275, with a growth of 3.08% in the last 24 hours.
Is this finally the year altcoins shine? What are you keeping an eye on?