- Michaël van de Poppe anticipates altcoins to reach unexpected all-time highs, surpassing investor forecasts and transforming the market.
- Ethereum (ETH) expects a significant advance, establishing $2,150 as support with a breakout target towards $3,500.
Cryptocurrency analyst Michaël van de Poppe has shared an optimistic outlook on the future of the altcoin market, indicating that the collective value of these coins will experience a considerable rise, exceeding what most traders expect.
Van de Poppe, with a wide audience on the social platform X, has predicted that altcoins will reach unexpected new all-time highs.
“People are asking whether altcoins will surpass their previous highs. The same question was asked in 2020. Answer: yes, they will. Yes, they will exceed your expectations. It is likely that many of the top runners have not yet developed,” comments Van de Poppe.
This statement implies a promising future not only for the current altcoins but also for those yet to appear.
Focusing on Ethereum (ETH), the altcoin with the largest market capitalization, Van de Poppe mentions that ETH is awaiting its next major upward breakthrough. He has noted that ETH has established the $2,150 level as support, expecting a breakout that could propel it up to $3,500. Currently, ETH is worth $2,560, which represents an 11.3% increase over the past week.
Regarding Bitcoin (BTC), the cryptocurrency with the largest market capitalization, Van de Poppe notes that it is facing resistance and is curious how the price will evolve as it approaches the $50,000 level in the coming weeks.
“Bitcoin is facing resistance. A large weekly candle has taken bitcoin back above $48,000. I am particularly interested to see how the price will behave near $50,000 in the coming weeks.”
This analysis hints at a period of expectation and growth for altcoins and Ethereum, anticipating that they will surpass their previous highs and reach new highs in value. The anticipation of an upward advance in Ethereum and uncertainty about Bitcoin’s price direction after touching key resistance points reflect the constant variability and opportunities in the cryptocurrency market, where investment possibilities can arise in established and rising cryptocurrencies.
