A well-known expert in the field of cryptocurrency has made a daring prediction regarding the altcoin market, suggesting that Ethereum (ETH) and Polkadot (DOT) could lead a significant rally. This analyst believes that the approval of an Ether ETF, along with other factors, could greatly benefit ETH and the overall altcoin ecosystem.
While Bitcoin (BTC) is inching closer to a new all-time high with a recent 4% surge in seven days, many altcoins, such as XRP, Dogecoin, and Shiba Inu, are experiencing negative gains in the last 24 hours. However, according to crypto trader Michaël van de Poppe, the altcoin season is on the horizon, with Ethereum (ETH), Polkadot (DOT), and XRP gearing up for a major rally.
Van de Poppe predicts that from late June to September or October, there will be a rare momentum in the market, signaling the start of an upward trend for altcoins. He anticipates a repricing back to normal values after the tumultuous period earlier in the year.
Observing the current market conditions, Van de Poppe notes that Bitcoin and a trio of other cryptos are showing signs of upward momentum, with BTC breaking the $70,000 resistance level and heading towards its all-time high.
At the time of writing, Bitcoin was trading at $71,135, marking a 14% increase in the last 30 days and a 0.3% rise in market cap to reach $1.4 trillion.
Looking beyond Bitcoin, Van de Poppe believes that Ethereum (ETH) is poised to lead the altseason, benefiting greatly from the approval of S-1 filings for ETH-based ETFs by the SEC. He emphasizes the importance of patience as Ethereum focuses on generating a higher low and anticipates a strong upward move following the approval.
Similarly, Polkadot (DOT) is expected to play a significant role in the 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 a position in DOT.
Lastly, XRP is also showing promise as investors await important decisions in the ongoing court case between the SEC and Ripple Labs. XRP is currently trading at $0.52.
In conclusion, the altcoin market is gearing up for a potential rally, with Ethereum, Polkadot, and XRP positioned for success in the coming months.