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COINTURK NEWS > Altcoin News > Michael van de Poppe Predicts Major Shifts in the Altcoin Market
Altcoin News

Michael van de Poppe Predicts Major Shifts in the Altcoin Market

In Brief

  • Michael van de Poppe predicts significant movements in the altcoin market.

  • He believes Ethereum will outperform Bitcoin in the coming months.

  • Altcoins are poised for substantial gains, with potential increases of 300-400%.

İlayda Peker
İlayda Peker 6 months ago
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Following Bitcoin’s (BTC) rise above the $100,000 mark, the cryptocurrency market has become more dynamic. Although this gain may not be sustained, prominent analyst Michael van de Poppe suggests that this is merely the beginning. He predicts a significant rotation within the altcoin market, resembling the cryptocurrency cycle of 2017. Poppe emphasizes that new players entering the market should closely monitor this process.

Contents
Bitcoin Moves, Altcoins AwaitEthereum Ecosystem Takes the Spotlight

Bitcoin Moves, Altcoins Await

According to Poppe, the concept of a “rotation game” applies across all markets. This game starts with a primary asset’s price increase, which then triggers movement in the rest of the ecosystem.

Altcoin Market

The cryptocurrency market begins with Bitcoin’s rise, followed by expectations for Ethereum (ETH) $2,517 to take action. Subsequently, a cycle forms where profits from Bitcoin $107,056 shift to Ethereum and altcoins.

Poppe argues that the current market conditions present substantial opportunities for altcoins, stating, “Look at the values of altcoins against BTC. Altcoin prices in USD may be misleading as Bitcoin’s rise influences these prices.” He believes that altcoins’ current levels against Bitcoin are quite low, signaling an impending upward movement. Many altcoins have the potential to rise by 300 to 400 percent within the year.

Ethereum Ecosystem Takes the Spotlight

Poppe believes that Ethereum could surpass Bitcoin in performance. He summarized his strategy as using “ETH as a foundational asset.” The analyst highlighted his focus on large-cap altcoins and small projects within the Ethereum ecosystem. He anticipates that in the coming months, Ethereum will outperform Bitcoin.

Following Ethereum’s ascent, large-cap altcoins are expected to take action. Subsequently, smaller projects will come into play, providing high returns. Poppe also noted that profits from smaller projects will likely be redirected back to more stable assets like Ethereum and Bitcoin.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 6 December, 2024 - 6:14 pm 6 December, 2024 - 6:14 pm
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COINTURK NEWS > Ethereum (ETH) > BlackRock Ethereum ETF Achieves Significant Success in the Market
Ethereum (ETH)

BlackRock Ethereum ETF Achieves Significant Success in the Market

In Brief

  • BlackRock Ethereum ETF has achieved over $2.6 billion in net inflows.

  • Ethereum faces price resistance but shows potential for significant growth.

  • Market developments will be crucial for Ether's future valuation.

Ömer Ergin
Ömer Ergin 6 months ago
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The BlackRock Ethereum $2,517 ETF (ETHA) stands out in the US market, achieving a remarkable success story with net inflows exceeding $2.6 billion. On Thursday, the ETF reached a new peak with a daily inflow of $292 million. This record increase indicates a growing demand for Ether-focused financial products.

Contents
ETHA Inflows and Market ImpactEthereum’s Price Movements and Future Potential

ETHA Inflows and Market Impact

Since its launch in July, BlackRock’s iShares Ether ETF has recorded a total of $2.6 billion in net inflows. Over the past five days, it attracted an additional $800 million in capital, increasing its total assets to 837,500 ETH, valued at approximately $3.27 billion. This success comes despite staking barriers and a lack of options trading on Ether ETFs.

Nate Geraci, President of ETF Store, noted that these inflows represent a significant financial step. According to Geraci, the success is largely attributed to outflows from Grayscale ETHE and the demand for new products in the market. So far, spot ETH ETFs have secured net inflows totaling $1.3 billion, further strengthening Ethereum’s position in the overall market.

Ethereum’s Price Movements and Future Potential

Ethereum’s price is facing resistance at the $3,928 level. Surpassing this level could increase the potential for prices to reach new highs above $5,000. An analyst known as Venturefounder highlights the possibility of Ethereum breaking out of a three-year consolidation pattern, which may signal a rapid rise akin to the 2016-2017 period.

Forecasts suggest that the price could reach $15,937 by May 2025. However, large-volume selling movements by Ethereum whales may exert downward pressure on price increases. According to data from Spot on Chain, a whale transferred 60,079 ETH, which it had held for six years, to the Bitfinex exchange. Market participants are closely monitoring this movement.

The market movements of Ethereum and the demand for the BlackRock ETF highlight investors’ growing interest in this sector. Future developments are likely to be decisive for Ether’s market value and price dynamics.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 6 December, 2024 - 5:44 pm 6 December, 2024 - 5:44 pm
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