29 February 2024
Amid the recent bullish sentiment around the crypto market, investors and traders anticipate that altcoins will attract notable gains post-Bitcoin rally.
Altcoins Poised For A 2X Surge After Bitcoin Rally
Michael Van De Poppe, a well-known cryptocurrency analyst, has shared his insights regarding altcoins with the community on the social media platform X (formerly Twitter). His predictions examine the potential for altcoins to rise in the near future.
Poppe started by highlighting that the market capitalization of Altcoin is presently “lagging behind” in this recent market rally. However, he noted that is what tends to happen when investors’ “strength is confined to Bitcoin alone.”
It is noteworthy that in the past, altcoins generally performed poorly whenever Bitcoin was in control of the market. But despite the performance of the tokens lately, Poppe’s optimism remains unwavering.
Due to this, the crypto analyst anticipates altcoins to rise by 2x in the short term. However, according to the expert, the uptick is expected to take place “once BTC’s rally stabilizes.”
The post read:
The Altcoin market capitalization is still lagging behind and that is usually what happens when strength is surrounded by Bitcoin alone. However, once Bitcoin is going to stabilize, it seems we will likely have a potential 2x on altcoins to come.
This hope stems from the notion that gains from Bitcoin might be transferred to alternative currencies. When this happens, altcoins such as Ethereum (ETH), Cardano (ADA), and XRP will be positioned for significant gains.
Van De Poppe’s insights have triggered a wave of speculation within the community, with members expressing excitement about the forecast. A pseudonymous X user responded by saying that it is “fascinating how the ebb and flow of altcoin market cap in BTC’s shadow.”
He further claimed that when BTC stabilizes, the 2x surge in value will be practically inevitable. In addition, he asserted that the perceptive observer will always be intrigued by the complex interplay between these assets.
Investment Shift Toward Alternative Cryptocurrencies
Even though altcoins are currently struggling to gain adoption from market investors and traders, several analysts are still bullish about the tokens, forecasting a notable rise in the landscape after Bitcoin’s surge has cooled down.
Poppe is just one of the crypto analysts who is bullish on these cryptocurrencies. Altcoin Rover, a crypto expert, has also expressed his optimism while noting an investment shift towards these tokens.
According to the analyst, he will be “selling his Bitcoin holdings to purchase several altcoins” poised for notable growth. Rover also clarified the possibility of significant gains for altcoins following BTC surpassing its all-time high.
The expert has pointed out a path investors should observe that leads to the “Altseason.” This path cited by Rover, which comprises four distinct phases, basically never changes.