Altcoins Poised for Surge After ‘Healthy’ Correction: Analyst

Cryptocurrency trader Michaël van de Poppe suggests that altcoins are gearing up for substantial rallies in the coming months following a significant correction.

Van de Poppe, a trader with a large following, notes that the TOTAL3 chart, which tracks the performance of altcoins, experienced a 16% devaluation during the recent correction. Despite this, he views the pullback as a natural part of a strong uptrend in the altcoin market.

Van de Poppe expresses confidence that the recent lows represent a turning point for many altcoins, observing notable strength across various projects. He indicates that weekly candlestick patterns suggest that altcoins are reaching bottoming points in their price action.

Previously, Van de Poppe predicted that the total market capitalization of altcoins could reach nearly $1 trillion. At the time of reporting, the TOTAL3 index is trading at $751.125 billion.

Regarding Bitcoin (BTC), Van de Poppe outlines a scenario where the cryptocurrency could rally to its previous all-time high of around $73,000 before the upcoming halving event. He remains bullish on Bitcoin, suggesting that any dips in its price are opportunities for buyers. Currently, Bitcoin is trading at $70,242, showing a 5% increase over the past 24 hours.

As market participants continue to monitor developments in the cryptocurrency space, Van de Poppe’s insights provide valuable perspectives on potential opportunities for investors.

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