A popular crypto analyst says he will buy the altcoins Polygon (MATIC), Cosmos (ATOM), Avalanche (AVAX), Concordium (CCD) and SKALE (SKL) as he anticipates a relief rally for the market.
Michaël van de Poppe tells his 619,400 Twitter followers he is stocking up on altcoins that could give him 20 to 60X returns on investment.
[adinserter block="1"]“Some projects I’ll be accumulating slowly going into the next bull cycle:
– ATOM
– MATIC
– AVAX
– CCD
– SKL
I think this would be the package to get towards 20-60x returns in the next bull cycle.”
During a press conference on Wednesday, Fed Chairman Jerome Powell said that the pace of interest rate hikes will likely slow down over the coming months. Van de Poppe sees that as a good sign for crypto.
“Jerome Powell has become dovish after this. Good sign for markets.”
Van de Poppe says the upcoming merger of Ethereum’s mainnet and the Beacon Chain’s proof-of-stake system this September is also bullish for the crypto market.
The event will give rise to Ethereum 2.0, which will transition the largest smart contract platform into a proof-of-work system. The upgrade is expected to solve the network’s scalability issues.
“Ideal ingredients for a Summer Relief Rally are there:
Powell becoming dovish on policy and more data-dependent.
ETH merge coming up in September.
Heavy impact on 3AC, Celsius, and more already priced in.
I’m seeing ETH to $2,400 and BTC to $28,000-30,000.”
Follow us on X, Facebook and TelegramFeatured Image: Shutterstock/Quanrong Huang