The well-known crypto expert Michaël van de Poppe continues to support bitcoins and predicts that their value will rise dramatically over the next few months. In a recent analysis shared through X on Saturday, the experienced expert goes into detail about why he thinks investors should buy altcoins in preparation for the coming crypto bull market.
Van de Poppe’s latest optimistic view on altcoins starts with the admission that these digital assets might not seem like the best investment right now, especially since their value has dropped by 70% compared to Bitcoin in the last three months.
This drop is due to Ethereum’s ongoing problems, which the analyst sees as a major cause of the market’s current malaise. He gives examples such as delayed network updates and a long-lasting bearish trend.
Altcoin’s Role in Disrupted Momentum
It is common for the crypto market’s momentum to change from Bitcoin to Ethereum, then to tokens with large market caps, and finally to mid-cap and small-cap tokens. Van de Poppe sees a break in this cycle, though, because Ethereum’s performance has been slow.
This is because people aren’t sure if a planned spot exchange-traded fund (ETF) will be approved and what its regulatory classification will be. Even with this delay, he says that people in the market are thinking about all the bad things that could happen if an Ethereum Spot ETF is denied or if it is labeled as a security.
Van de Poppe thinks that as soon as Ethereum starts going up again, other altcoins will do the same. He thinks that some tokens will go up a lot, like how quickly Bitcoin spot ETFs went up between October 2023 and February 2024 because of a lot of speculating. In order to get investors to take advantage of this time of “lowest confidence,” he compares it to the chance that came with Bitcoin’s price being $3,700 at the start of 2020.
He says that smart investments made now will pay off major in the coming bull run.The analyst is optimistic because regulatory bodies are still thinking about how to classify Ethereum and potential issuers and regulatory bodies have not had a real conversation. The next due date for the SEC’s answer to two ETF applications is May 23/24. People in the market expect the Commission to take even longer to respond.
At the time of this writing, Ethereum is selling at around $3,123.39, which is a small rise of 0.53% over the last day.
