Crypto currency analyst Michael van de Poppe has put forward a bullish narrative for altcoins, predicting that these crypto currencies will soon make a significant breakout. The analyst’s prediction is based on his belief that altcoins are still undervalued compared to Bitcoin. So, which crypto currencies does the analyst foresee exploding?
Crypto Analyst Says Altcoins Are Ready to Explode
Michael van de Poppe stated in a post that “there is still about 40-60% market value to be gained for altcoins.” In a subsequent post, he emphasized that the valuations of these crypto currencies in BTC pairs are still relatively low, which could indicate an impending explosion.
The analyst believes that the valuation of these altcoins should be done using “the value of Bitcoin” and not in any other way. If such a comparison is made, it can be seen that “most altcoins are still very undervalued compared to Bitcoin,” he noted. Meanwhile, he implied that altcoins will benefit from these significant gains when Bitcoin consolidates.
Money Flowing to Bitcoin May Soon Shift to Altcoins
Michael van de Poppe detailed the correlation between Bitcoin and these altcoins in a video on his YouTube Channel. The analyst stated that Bitcoin reaching new highs means there is more money in the market, which will soon flow into other crypto currencies.
When this happens, the analyst expects these altcoins, which should not be underestimated due to their declines in the bear market, to achieve significant returns. Meanwhile, Michaël van de Poppe predicts that the altcoin season will come in different rounds, first with some altcoins breaking all-time records and then moving to new highs.
Best Time to Buy Altcoins Approaching
Michael van de Poppe had previously advised his followers on the right time to buy crypto currencies in preparation for this upcoming altcoin season. At that time, he had stated that the best time to invest in altcoins was “6-10 months before the Bitcoin halving.”
The analyst, seeing significant increases in altcoins since then alongside Bitcoin, called it correctly. In particular, artificial intelligence and meme coins led the way, with the market values of leading meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) seeing significant increases.
Despite the tremendous run these tokens have had so far, considering that Michael van de Poppe still mentions these altcoins as undervalued, it seems there is still an opportunity for investors to position themselves.
