- Analysts predict a significant rise for altcoins in the coming months, with the cryptocurrency market brimming with anticipation.
- This positive outlook comes after a period of weak performance, with the global market value reaching $2.35 trillion.
- Leading analyst Michaël van de Poppe believes a market-wide rise is imminent due to signs of slowing economic activity.
As the cryptocurrency market anticipates a significant rise for altcoins, leading analysts like Michaël van de Poppe predict a market-wide rise due to signs of slowing economic activity.
Michaël van de Poppe’s Forecast for Altcoins
Michaël van de Poppe, one of the leading analysts, believes that a market-wide rise is imminent due to signs of slowing economic activity. He points to the recent US labor market data highlighting increased unemployment and lower-than-expected wage increases. According to Van de Poppe, these factors will force the FED to loosen its monetary policy, leading to a revival of quantitative easing and interest rate cuts. This will support risky assets, including cryptocurrencies.
Bitcoin’s Potential Rise
Van de Poppe predicts a potential rise for Bitcoin, surpassing the $61,600 limit and returning to the bullish zone. He also suggests that the recent market decline represents a buying opportunity. He emphasizes that altcoins are ready for a significant rise after a consolidation period, currently hovering around $880-920 billion. He predicts a potential run towards all-time high levels for the altcoin market value.
Expectation of Revival
This bullish sentiment extends beyond Van de Poppe. The general market recovery, albeit modest, has sparked a sense of optimism. Interestingly, Van de Poppe expects a revival of individual investor participation, likely to return to the market when significant gains are made in altcoins.
Changes in Meme Coins?
Another interesting prediction revolves around meme coins. The market value of meme coins has shown impressive growth recently, with an 11% increase in the last 24 hours. This strong performance, combined with the historical success of meme coins like Dogecoin, has led analysts to predict a “meme season” in May, where meme coins could become the most profitable crypto investments. The emergence of promising new meme coins like Dogwifhat, Popcat, and Real Smurf Cat further strengthens this prediction.
Conclusion
In conclusion, the cryptocurrency market is filled with anticipation as analysts predict a significant rise for altcoins. The general market recovery, the potential rise of Bitcoin, and the impressive growth of meme coins all contribute to this positive outlook. However, the ongoing discussions about the classification of Ethereum as a security or commodity and the anticipated decision on the Ethereum Spot ETF by US regulators continue to cast a shadow. Analysts now predict a delay in the SEC’s decision, citing the long silence and tense atmosphere surrounding the application.
