Popular Dutch analyst Michaël van de Poppe, with almost 800.000 followers on X, recently predicted a strong upward movement for altcoins. He believes that these coins will outperform in the coming period Bitcoin. This statement is not new, however; Van de Poppe has been saying this for years, and so far, it has not been successful. In fact, since he sold all his Bitcoin, altcoins have actually fallen considerably compared to BTC.
Still, Van de Poppe remains optimistic and now sees opportunities for altcoins to enter an upward cycle, also compared to Bitcoin. The charts show transport signals that point to possible opportunities. The chart of the total market value of altcoins against Bitcoin (TOTAL3/BTC) shows a bullish divergence. This phenomenon occurs when the price is falling, but indicators such as the RSI or MACD show higher lows. This suggests that the downward momentum is decreasing and a price increase could be imminent.
Indeed, TOTAL3 tracks the market cap of the crypto market minus Bitcoin, Ethereum, and stablecoins. This means that the big players are left out of the equation, making TOTAL3 focus on all altcoins, excluding Ethereum and stablecoins.
Van de Poppe has had a hard time with his altcoins, but he is optimistic and predicts better times now. He points to a bullish divergence on Ethereum three weeks ago, which could have heralded a reversal in the trend. The higher bottom that followed led to a significant breakout. According to him, the trend reversal is clearly visible. At the moment we see daily bullish divergences and weekly divergences appear for several altcoins.
However, the good times are not yet visible today. Most coins are in the red, with the only exception of XRP, which shows a slight increase of 4,66%. So it seems that we will have to be patient for a while before the altcoins really start to shine. And who knows, maybe a surprise will fall from the sky soon - that is what makes this crypto world so exciting.
Why does Michaël van de Poppe believe that altcoins will outperform Bitcoin?
Van de Poppe sees signals in the charts that suggest altcoins could be in an upward phase, despite previous disappointments.
What is a bullish divergence and why is it important?
A bullish divergence signals that although the price is falling, indicators are making higher lows. This can indicate an upcoming price increase.
Why is most crypto currently in the red?
Current market dynamics show little upside and several top coins are in a downtrend despite predictions of better times.