- Crypto trader and influencer Michael van de Poppe tips Ethereum Layer 2 solutions, Chainlink and Sui as promising altcoins coming into 2024.
- He believes that Ethereum is poised to outperform Bitcoin in the new year, pointing toward potential ETF approval as a catalyst.
- Van de Poppe also states that Chainlink (LINK) is coming toward the end of its bearish cycle and has all the right fundamentals to reverse the trend.
- Finally, he recommends investors have BTC and ETH as the cornerstones of their portfolio, and to be cautious when investing in altcoins.
With the new year well and truly underway, many in the community are starting to get excited about the crypto market’s prospects for 2024. Prominent social media figure and crypto trader Michael van de Poppe has weighed in via X, listing five altcoins he believes are worth following over the next 12 months.
Ethereum Set to Play a Big Role in the Next Bull Market
All the hype of late has been around Bitcoin’s upcoming ETF – likely set for approval sometime this month – but there is another market catalyst lurking just behind. Ethereum hasn’t seen the institutional interest of BTC just yet, but a spot Ether ETF is set to follow Bitcoin’s by only a few months. While the BTC ETF may already be priced in, there’s a good chance that Ethereum’s isn’t.
According to van de Poppe, “Ethereum is likely going to outperform Bitcoin in the upcoming period”.
This “thesis” also informs two of his other big altcoin picks for the coming year – Optimism and Arbitrum. These are two Layer 2 projects that aim to reduce congestion on the Ethereum network and improve access to decentralised applications as the EVM ecosystem continues to grow.
Michael van de Poppe also points to Chainlink (LINK) as a potential player in the next crypto bull market, claiming that the coin has already seen a three-year bear run and is poised to turn things around.
Finally, the expert trader recommends the Layer 1 blockchain Sui (SUI) as a growing ecosystem that presents a good way to risk-manage a portfolio to avoid being too heavily weighted toward Ethereum.
New Year’s Resolution: Don’t Chase Gains
Unlike many “influencers” who simply put forward the coins they’re invested in in the hope their followers will pump up the price, van de Poppe warns against investors blindly following his advice. He points out the significant risk associated with fickle altcoins and suggests most traders focus on accumulating BTC and ETH, while building around it with riskier assets.
My advice wouldn’t be to invest into small altcoins, as chasing a 100x is like gambling. I’d advise to take large altcoins as your ultimate goal is to time the markets well and to compound your returns.
Michaël van de Poppe
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