A well-known expert in the field has made a daring prediction regarding the altcoin market, suggesting that Ethereum (ETH) and Polkadot (DOT) could lead a significant rally. He believes that the approval of an Ether ETF, along with other factors, could greatly benefit ETH and the broader altcoin ecosystem.
While Bitcoin (BTC) inches closer to reaching a new all-time high price with a 4% surge in the past seven days, many altcoins seem unaffected. XRP, Dogecoin, and Shiba Inu have experienced negative gains in the last 24 hours. Crypto trader Michaël van de Poppe anticipates that the altcoin season is on the horizon, with Ethereum (ETH), Polkadot (DOT), and XRP gearing up for a major rally.
Van de Poppe predicts a surge in momentum for these altcoins from late June to September or October. He believes they are ready to reclaim their normal values after a turbulent period earlier in the year.
His analysis also suggests that Bitcoin, along with a trio of altcoins, is showing signs of upward momentum. Bitcoin has broken the $70k resistance level and is heading towards its all-time high.
At present, Bitcoin is trading at $71,135, marking a 14% surge in the last 30 days and a 0.3% increase in market cap to reach $1.4 trillion.
In terms of altcoins, Ethereum, Polkadot, and XRP are seen as primed for success. Van de Poppe believes that Ethereum will benefit greatly from the approval of ETH-based ETFs by the SEC. He suggests that ETH is likely to experience a significant price appreciation.
Polkadot (DOT) is also expected to play a key role in the upcoming altcoin movement due to its recent fundamental growth. Van de Poppe highlights the project’s focus on Real World Assets (RWA) and suggests that now is a good time to accumulate DOT.
As for XRP, investors are eagerly awaiting developments in the ongoing court case between the SEC and Ripple Labs. Despite recent declines, XRP is seen as having significant potential for growth.
In conclusion, the altcoin market is poised for a major rally, with Ethereum, Polkadot, and XRP leading the charge. Investors are advised to keep a close eye on these altcoins as they navigate through the evolving crypto landscape.