Altcoins
This Crypto Trader Just Sold All His Bitcoins for Altcoins Like Cardano and XRP, Here’s Why
Crypto expert Michaël van de Poppe recently revealed that he sold all his Bitcoins and transformed his capital into altcoins. The analyst explained the reason for this decision and noted that he was doing this to acquire more flagship crypto later.
Why this analyst traded his Bitcoin for Altcoins
In an X (formerly Twitter) job, Van de Poppe explained that altcoins were “crushed unreasonably.” As such, he believes things can only get better from here, noting that “the upside (for these altcoins) cannot be denied.”
Based on his explanation, the analyst suggested that these altcoins would likely be outperform Bitcoin from now on, as the flagship crypto has already had its moment before the reduce by half when crypto natives traded their altcoins for Bitcoin. Previously, Van de Poppe already predicted that altcoins would rebound in their Bitcoin pairs after the halving.
He also has mentioned at the time, there would be a narrative shift towards Ethereum. More recently, he indicated that the news around Ethereum Spot ETF would spark a rally for Ethereum and other altcoins. While explaining his decision to trade his Bitcoins, he brought up this topic again and hinted that Ethereum would be an integral part of any move these altcoins make.
Van de Poppe claimed that everyone is expecting the worst, that applications for Spot Ethereum ETFs will be denied because the SEC considers the crypto token a security. Therefore, he believes that the market is already priced in accordingly and can only recover from here on out, even if the SEC ultimately rejects the applications.
The crypto analyst further claimed that markets could make a “significant turnaround” if the news ends up being slightly better than a rejection. He also highlighted other developments that could help trigger this decision. One is the FIT21 invoice, which the House will vote on soon. This bill is expected to bring regulatory clarity to digital assets in the United States.
Van de Poppe also noted that SEC Lawsuit Against Ripple comes to a “final stage” and predicts that the crypto company will likely achieve a final victory, which could also help provide a major boost to these altcoins.
Meanwhile, he expects that Decentralized Physical Infrastructure Networks (DePIN) and real-world assets (RWA) will be “massive,” with traditional businesses transitioning to the Web3 ecosystem. Thus, Van de Poppe urged his supporters to “spread out” if they wanted to “make a significant comeback.”
Van De Poppe’s big bet
It is to highlight that Van de Poppe The decision to exchange your Bitcoins for altcoins is not an end in itself but a means to an end. The crypto expert hopes to achieve a return on investment of 300% to 900% in the next six to twelve months. Van de Poppe hinted that he would redirect his capital towards Bitcoin after this period and predicted that he could achieve an additional 300-600% return on investment provided that Bitcoin stabilizes.
He warned against the risk of taking such a gamble, revealing that he is currently down about 20% on his overall investment. He also noted that he could still incur more losses on his investment, given these altcoins could still experience further declines from their current price levels.
However, Van de Poppe added that he agreed with the outcome of his investment. Once again, he reaffirmed that he “gladly allocates” his entire capital towards altcoins and concluded by declaring that the bull cycle will be “glorious”.
Chart from Tradingview.com