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A widely followed crypto analyst says that altcoins are poised to spark a massive rally starting at the end of June.
In a new thread, crypto trader Michaël van de Poppe tells his 719,600 followers on the social media platform X that altcoins are gearing up for a ride “back to normal values.”
“The altcoins are ready for their upwards run. I think we’ll be seeing a lot of momentum from late June until September – October. A repricing back to their normal values after the big cascade of the first period of the year.”
Van de Poppe goes on to say that a trio of cryptocurrencies are also showing strength. According to the trader, Bitcoin (BTC) is flashing signs of upward momentum, noting that if the crypto king can hold the $70,000 price level, it could reach new all-time highs.
“The upwards momentum [of] Bitcoin continues to happen. $70,000 broke upwards, through which the important level is to hold $70,000 now for continuation to the all-time high.”
Bitcoin is trading for $71,595 at time of writing.
Moving on to Ethereum (ETH), Van de Poppe says the leading smart contract platform by volume would benefit from financial institutions getting their S-1 filings for ETH-based exchange-traded funds (ETFs) approved by the U.S. Securities and Exchange Commission (SEC).
“Ethereum focusing on generating that higher low. I think certainty regarding the S-1 approvals is going to lead to a strong upwards move and the higher low. Just a matter of patience.”
Ethereum is valued at $3,847 at time of writing.
Concluding his analysis with layer-2 scaling solution Polkadot (DOT), the analyst says there’s still time to accumulate despite its price slowly moving upwards.
“DOT is doing great in fundamental growth. They are focusing on RWA (real-world assets) and have multiple great projects within the ecosystem (Centrifuge and Energy Web). Right now, the price starts to crawl upwards and I think it’s still a great time to accumulate a position.”
DOT is trading for $7.28 at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/lassedesignen/Natalia Siiatovskaia
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