Top Crypto Analyst Michaël van de Poppe Highlights Bittensor (TAO) as Investment Choice

  • Recently, prominent crypto analyst Michaël van de Poppe made headlines by shifting his focus towards altcoins three months ago.
  • He adjusted his altcoin portfolio following this strategy change, aiming for solid investment returns amidst market turmoil.
  • Van de Poppe highlighted the significant sales pressure from Jump Trading and its impact on the cryptocurrency markets.

Dive into the reasons behind Michaël van de Poppe’s altcoin choices and their potential in a recovering crypto market.

Altcoin Market Adjustments Post-Crash

The cryptocurrency market has been grappling with significant correction effects, which recently led to a substantial drop in the value of both Bitcoin and altcoins. This correction was notably influenced by the Japanese Yen’s ‘carry trade,’ causing a ripple effect across various financial markets.

Jump Trading and Its Impact

Van de Poppe shed light on the continuous sell-offs by the crypto trading firm Jump Trading, which primarily focused on Ethereum (ETH). He noted that these sell-offs began around the time of the ETF listing on July 24 or 26, causing sustained downward pressure over subsequent weekends. This strategic liquidation was necessary to avoid margin calls.

Key Altcoins in van de Poppe’s Portfolio

Van de Poppe’s revised portfolio includes Bittensor (TAO), Aave (AAVE), and Aevo (AEVO), reflecting his confidence in their potential growth.

Bittensor (TAO)

Bittensor (TAO) stands out as a robust investment within the AI sector, showcasing a remarkable 70% surge from its lows. Van de Poppe projects that TAO could yield returns five to ten times its current value. At the time of his analysis, TAO was trading at $279, experiencing a 3.5% daily decline but achieving a weekly gain of 10.6% and a monthly increase of 12.8%.

Aave (AAVE)

Aave (AAVE) is another key player in the analyst’s portfolio. Van de Poppe observed that AAVE is experiencing solid accumulation against Bitcoin and creating new highs against Tether (USDT). He noted that AAVE is forming a strong consolidation pattern, a promising indicator ahead of a potential breakout. At the analysis point, AAVE was trading at $96.65, with a slight 3.47% dip over the past week.

Aevo (AEVO)

Lastly, van de Poppe is positive about Aevo (AEVO), a decentralized exchange. He highlighted that AEVO is likely setting up for a bullish divergence and a falling wedge pattern. Despite a 3% daily drop to $0.3581, AEVO has shown a 12% weekly improvement.

Conclusion

In conclusion, Michaël van de Poppe’s strategic realignment towards altcoins like TAO, AAVE, and AEVO underscores his belief in their potential despite recent market volatility. Investors might find these assets promising as the market continues to seek stability and growth opportunities.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Michigan State Retirement Fund Invests $10 Million in Grayscale Ethereum Trust, Securing Major Stake

The Michigan State Retirement Fund has strategically positioned itself...

Grayscale Proposes Listing for Grayscale Digital Large Cap Fund (GDLC) as ETP with Bitcoin Dominating Holdings

On November 4, COINOTAG News reported that Grayscale has...

Fragmetric Completes Builder Round Financing to Enhance Solana Ecosystem Security and Liquidity

On November 4th, COINOTAG News reported that Fragmetric, a...

Vitalik Buterin Warns Against Exclusion of Russian Developers in Open Source Community

On November 4th, Vitalik Buterin, co-founder of Ethereum, took...

Bitcoin Volatility Soars Amid U.S. Election Impact on Crypto Markets

Bitcoin Volatility Surges as U.S. Election Heightens Stakes for...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img