- Michaël van de Poppe sees Bitcoin’s sideways trend as a precursor to an imminent altcoin season with potential for significant price increases.
- Spot Ethereum ETF approvals in the US signal the start of a strong altcoin season, with expected market lift-off post S-1 filing approvals.
- Van de Poppe highlights altcoins like Optimism, Arbitrum, and Woo X as top picks, each with high potential for gains based on market and technological developments.
While Bitcoin has been trading sideways, some altcoins have rallied, mainly memecoins and some AI-related projects. While most do not consider it a proper alt-season yet, analyst Michaël van de Poppe believes we are about to enter one.
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And he said we may not see the current low prices again for some time.
It’s the final easy moment to buy altcoins cheap and it might be the final moment for the coming few years.
Michaël van de PoppeAccording to van de Poppe, the in-part approval of the Spot Ethereum exchange-traded funds (ETFs) in the US is a strong signal for the start of the altcoin season. Once the S-1 filings are approved, we should see the market take off for good, he added.
The S-1 filing approval, which will see the funds actually trading, is expected sometime in early July. So, enough time to potentially stock up on some altcoin gems.
Here Are the Analyst’s Top Three Altcoins
Optimism (OP)
Van de Poppe admits it may not sound exciting but OP is a great choice because of the scalability and the price of transactions on the network.
Ultimately, OP as a layer-2 blockchain is used daily and solves some of the scalability issues of Ethereum. It has great potential, especially when you measure performance against BTC, not the USD.
A coin like Optimism can increase between 300 to 800% in BTC value in the coming six months.
Michaël van de PoppeArbitrum (ARB)
ARB has been performing very poorly, he said, so you may think it’s an odd choice, but van de Poppe believes it has even greater potential than Optimism. This is based on a flurry of decentralised applications (dApps) being built and other infrastructure improvements.
As ARB has lost around 70% against BTC, the analyst believes once it takes off, returns can easily be around the 250 to 350% mark.
Woo X
The last of his picks is a little less known project, decentralised exchange (Dex) Woo. Van de Poppe believes Dexes are a good bet because they allow traders to trade more freely than on centralised exchanges.
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Woo also dropped 70% in value, and the analyst believes at least 300 to 800% in gains are possible.
Of course, van de Poppe’s list is only a suggestion, so it’s reasonable to continue your own research before you pull the trigger and commit any funds. There is also a guide on how to do exactly that, in our comprehensive guide on How to Analyse Cryptocurrency Before Buying.
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