A widely followed crypto analyst says the next two months will be dynamite for altcoins as he updates his views on three digital assets.
Crypto strategist Michaël van de Poppe tells His 676,100 followers on the social media platform
“Bitco is still consolidating around $43,000, while Ethereum continues to gain momentum. The bottom for ETH/BTC is close or perhaps within. Over the next two months, altcoins will rise even further. Enjoy the ride!”
ETH/BTC yes trade for $0.0536 at the time of writing.
Van de Poppe then gives his views on layer 2 blockchains Optimism (OP) and Arbitrum (ARB), as well as the popular meme asset Pepe (PEPE).
According to the analyst, the meme coin is PEPE to show a lot of momentum and could ultimately become the next Dogecoin (DOGE), also noting that buying the dips is a viable strategy.
“This one is showing a lot of momentum, but I would like to see a retest at 1285-1350 and then continue towards 2000. Buying dips like this is a good strategy at this stage of the market. It could be the new DOGE.”
PEPE is trading at $0.000002 at the time of writing.
Onwards to layer 2 scale solution Optimism, van de Poppe say it appears as if it is following the same path as top smart contract platform Ethereum (ETH).
“Another follows the path of Ethereum. If a correction occurs, it would be wise to look at the area between $1.85 and 1.935 to ensure you get a good entry. Right now you’re basically chasing the candles.”
OP is trading at $2.11 at the time of writing.
The strategist concludes his analysis saying that ARB, like OP, is following Ethereum’s path and setting the stage to rise to the $1.30 level, adding that a bullish Q1 will follow.
“Arbitrum is following in the footsteps of Ethereum. Ethereum shows strength, so does Arbitrum and so does Optimism. Great move here, probably a few retests lower, but looks set for $1.30 and a bullish Q1.”
ARB is trading at $1.16 at the time of writing.
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Generated image: Midjourney