A widely followed crypto analyst says altcoins will spark a massive rally starting in late June.
In a new thread, crypto trader Michaël van de Poppe tells his 719,600 followers on the social media platform
“The altcoins are ready for their rise. I think we’ll see a lot of momentum from late June through September – October. A revaluation to their normal values after the great cascade of the first period of the year.”
Van de Poppe continues that three cryptocurrencies are also showing strength. According to the trader, Bitcoin (BTC) is showing signs of upward momentum. noticing that if the crypto king can hold the $70,000 price level, it could reach new all-time highs.
“The upward momentum [of] Bitcoin is here to stay. $70,000 broke higher, making it an important level to hold $70,000 now for continuation to all-time highs.”
Bitcoin is trading at $71,595 at the time of writing.
Moving on to Ethereum (ETH), Van de Poppe says the leading smart contract platform by volume would benefit from financial institutions receiving their S-1 filings for ETH-based exchange-traded funds (ETFs) approved by the U.S. Securities and Exchange Commission (SEC).
“Ethereum is focused on generating that higher low. I think certainty on S-1 approvals will lead to a strong upside and a higher low. Just a matter of patience.”
Ethereum is valued at $3,847 at the time of writing.
Concluding his analysis with layer-2 scaling solution Polkadot (DOT), the analyst say there is still time to accumulate even though the price is slowly rising.
“DOT is doing a great job on fundamental growth. They focus on RWA (real-world assets) and have several great projects within the ecosystem (Centrifuge and Energy Web). Right now the price is starting to creep up and I think it is still a good time to build a position.”
DOT is trading at $7.28 at the time of writing.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
follow us on X, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/lassedesignen/Natalia Siiatovskaia