Altcoins
Top Analyst Says Now Is The Last Chance To Buy Altcoins At 70% Discount
Cryptocurrency analyst Michaël van de Poppe played his latest video and explained why now is the best time to buy altcoins while they are still cheap. He said many people have difficulty buying altcoins during a downtrend, but it’s actually the easiest time to make a plan and invest. Currently, altcoins are undervalued and consolidating, and he expects them to rise soon. He added that while it may seem risky to buy during a downtrend, that’s when the best financial opportunities present themselves.
The analyst discussed the expected impact of the Ethereum ETF on the stairs. He noted that before the launch of the Bitcoin ETF, the price of Bitcoin rose from $25,000 to $45,000, then corrected to $37,000, and after the ETF was listed, The price of Bitcoin rose to $73,000. Likewise, he expects Ethereum to reach new all-time highs following the approval of its ETF, expected in late June or July.
He said that Bitcoin is often overvalued compared to Ethereum and vice versa. It is crucial to monitor the charts of different coins in relation to Ether or Bitcoin. Solana, for example, has been stable since the start of the year, while Ethereum has seen slight gains compared to Solana, which has fallen against Bitcoin.
In 2023, Solana has performed well, drawing funds from the Ethereum ecosystem due to traders seeking high returns. This success extended to other tokens in the Solana ecosystem, such as Render, which saw significant growth before stabilizing. Similarly, AI tokens like Fetch have seen substantial returns but are now losing momentum, just like Solana.
Arbitrage and optimism have suffered significant declines since The Bitcoin ETF quotation, down 73% and more than 60% respectively. If Bitcoin remains stable and Ethereum’s momentum increases, a return to the Ethereum ecosystem could occur.