Ethereum’s 6.7% Increase Predicted to Trigger 200-400% Rally in Altcoins
Cryptocurrency analyst Michaël van de Poppe is optimistic about the potential influx of retail traders into the crypto market once Ethereum (ETH) breaks its previous all-time high (ATH). With a substantial social media following of 795,600 individuals on X, his insights carry weight in the crypto community. Van de Poppe asserts that the current market landscape offers a lucrative chance for investors to stock up on altcoins before the anticipated surge in retail interest when ETH hits new record levels, potentially driving altcoin prices up by 200-400%.
Drawing from recent market movements, particularly ETH’s impressive recovery erasing half a year’s worth of losses to trade above $3,250, Van de Poppe foresees a ripple effect across the Ethereum ecosystem. As prominent cryptocurrencies like Bitcoin (BTC) and ETH stabilize, he predicts that altcoins within this network will follow suit, experiencing substantial price hikes. Van de Poppe projects that ETH could climb by over 23%, breaching the $4,000 mark, urging investors to leverage any price corrections to capitalize on buying opportunities.
At present, ETH commands a price of $3,234, representing a daily increase of 6.7%. Notably, its past ATH was last clocked in November 2021 at around $4,900. Concurrently, BTC is valued at $119,051, registering a 2.2% upswing within the day. Emphasizing a bullish divergence observed in the altcoin market cap versus Bitcoin (TOTAL3/BTC) graph, Van de Poppe posits that altcoins are primed to outperform Bitcoin. The TOTAL3 index monitors the combined market cap of cryptocurrencies apart from Bitcoin, Ethereum, and stablecoins, with a bullish divergence indicating heightened buying enthusiasm despite stagnant or downward price movements.
Van de Poppe’s bullish forecast pivots on ETH sustaining its upward trajectory, drawing an expanding crowd of investors. With retail traders historically playing catch-up in the market cycle, he anticipates a rush of new participants once ETH shatters its previous price records. While he underscores the opportune moment for amassing altcoins, Van de Poppe warns of potential market fluctuations and instability that investors must be prepared to navigate.
