Michael van de Poppe predicts a rapid rally of altcoins

Michael van de Poppe, the head of MN Consultancy, said that Ethereum ETH $3,138.09 Bridged Ether (StarkGate) 1.07% Market capitalization $0.26 billion VOL. 24 hours $1.34 billion managed to gain a foothold above $ 3100, which indicates the beginning of the expected altcoin season amid bitcoin’s historic high.

The trader called the growth of the ether by more than 10% impressive, noting that this is the most powerful movement of the asset over the past three months.

According to the expert, after the election of Donald Trump as US president, capital inflows into ETH-ETFs reached $ 50 million per day, which confirms the growing interest of institutional investors.

Photo: TradingView

«Ether has finally managed to overcome the long-lasting resistance and is now forming a strong bullish divergence against bitcoin. However, a breakout above $ 3400 is needed to confirm and continue this trend,» van de Poppe said.

The Head of MN Consultancy also believes that an upward cycle of altcoins has begun, which can set new highs due to the growth of liquidity in the markets and increased interest in risky assets.

According to the expert’s forecast, the altcoin cycle will last until 2026 or 2027 and could potentially develop into a large-scale supercycle.

By the way, Dan Tapiero, CEO of 10T Holdings, believes that Ethereum (ETH) is significantly undervalued in the current market and has the potential to grow by 171% from its current value.

As a reminder, digital asset market analyst Michael van de Poppe predicted that the bitcoin rate could reach $ 100,000 by the end of November. The expert notes that the key support level for the cryptocurrency was formed at $ 70,000, and the flagship of the crypto market is showing steady growth.