Esteemed analyst makes a daring forecast regarding the altcoin market, suggesting that Ethereum (ETH) and Polkadot (DOT) could spearhead a significant rally.
He believes that the approval of an Ether ETF, along with other factors, could greatly benefit ETH and the broader altcoin ecosystem.
While Bitcoin (BTC) inches closer to a new all-time high with a 7-day surge of 4%, many altcoins such as XRP, Dogecoin, and Shiba Inu are experiencing negative gains in the past 24 hours. Crypto trader Michaël van de Poppe anticipates the start of the altcoin season, with Ethereum (ETH), Polkadot (DOT), and XRP gearing up for a massive rally.
Van de Poppe predicts a rare momentum in the market from late June to September or October, indicating that the altcoins are poised for an upward trend.
His analysis shows that Bitcoin and the trio of altcoins are showing signs of upward momentum, with BTC breaking the $70k resistance level and moving towards its all-time high.
Bitcoin is currently trading at $71,135, marking a 14% surge in the last 30 days and a 0.3% increase in market cap to reach $1.4 trillion.
Regarding altcoins, Ethereum, Polkadot, and XRP are considered “Ready for the Moon” by van de Poppe. He believes that Ethereum will benefit significantly from the approval of ETH-based ETFs by the SEC.
At the moment, ETH is trading at $3,817, with a decline of 0.7% in the last 24 hours and 3% in the last 90 days.
Polkadot (DOT) is also expected to play a significant role in the altcoin movement due to its recent fundamental growth. Van de Poppe suggests that there is still time to accumulate DOT as it focuses on Real World Assets (RWA) and has promising projects in its ecosystem.
DOT is currently trading at $7.1 after a 0.31% decline in the last 24 hours.
Lastly, XRP is poised for success as investors await crucial decisions in the SEC’s court case against Ripple Labs. XRP is trading at $0.52, with a 0.02% decline.
In conclusion, the altcoin market is showing signs of a potential rally led by Ethereum, Polkadot, and XRP, with Bitcoin also experiencing upward momentum towards its all-time high.
