Altcoins Set for 10x Gains, Ethereum to Hit $8K, Predicts Top Crypto Analyst!
The post Altcoins Set for 10x Gains, Ethereum to Hit $8K, Predicts Top Crypto Analyst! appeared first on Coinpedia Fintech News
Renowned crypto analyst Michael van de Poppe has forecasted a significant surge in the altcoin market. Following a correction that concluded two weeks ago, van de Poppe expects massive gains for altcoins and Ethereum. Could this be the beginning of a historic run for cryptocurrency investors?
Altcoin Season On The Horizon
In a recent tweet, van de Poppe indicated that the market cap for altcoins has completed its correction phase, positioning itself for substantial growth. However, analyst predicts that the second half of the year will see a continuous upward trend for altcoins. He expects dramatic gains, forecasting that many altcoins could experience 5 to 10x of their current value.
Meanwhile, this optimistic view is rooted in recent market trends and technical indicators, which suggest that altcoins are primed for a rally. The altcoin market cap has stabilized, providing a solid foundation for future growth.
Perhaps as per the data from Blockchain Center, just 33% of the top 50 altcoins have outperformed Bitcoin (BTC) in the past three months. While this shows some positive movement, it’s not enough to declare an altcoin season. To officially recognize an altseason, more than 75% of these altcoins need to surpass BTC.
Ethereum To Soar $8k
Ethereum, the second-largest cryptocurrency by market cap, is expected to play a significant role in this imminent bull run. Meanwhile, the upcoming launch of the Ethereum ETF is scheduled to launch this week. However, the analyst believes this will attract institutional investors and capital flow into ETH ETF.
Additionally, he predict that Ethereum (ETH) could surge to between $6,000 and $8,000. Currently, ETH is trading at $3,450, reflecting a surge of 3.3%, with a market cap of $414 billion. This prediction aligns with the increasing interest in Ethereum’s upcoming network upgrades and its growing use in decentralized finance (DeFi) and non-fungible tokens (NFTs).
