A widely followed crypto analyst says the collective altcoin market cap will rise much higher than most traders expect.
Michaël van de Poppe tells his 692,800 followers on the social media platform X that altcoins are going to reach unimaginable new all-time highs.
“People are wondering, are altcoins going to break their all-time high?
The same question was asked in 2020.
Answer:
Looking at the top altcoin by market cap Ethereum (ETH), Van de Poppe says that ETH is in a ‘waiting game’ till its next big move up.
“Waiting game until Ethereum starts to pick up pace.
Flipped the $2,150 level for support, currently waiting for a breakout for continuation to $3,500.”
ETH is worth $2,560 at time of writing, up 11.3% in the last week.
Looking at the top crypt asset by market cap, Bitcoin (BTC), the analyst says BTC is facing resistance, noting that he’s unsure where the crypto king will head after reaching the $50,000 level in a week or two.
“Bitcoin looking at the resistance.
Massive weekly candle, through which Bitcoin is back above $48,000.
I’m personally interested in what price will do around $50,000 in the upcoming 1-2 weeks.”
BTC is worth $49,737 at time of writing, up 16.5% in the last week.
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