A renowned crypto analyst, Michael van de Poppe, projects a considerable surge for altcoins, suggesting that they could see a value doubling in the next few months. Van de Poppe’s analysis, based on the TOTAL3 chart which excludes Bitcoin and Ethereum, signals a prospective market valuation of around $450 billion, hinting at an impending uptick.
Altcoins Poised for Remarkable Growth
The crypto expert believes that the altcoin market is setting up for a significant upward movement. He has identified key price levels that have established a higher bottom, laying the foundation for the next bullish phase. Van de Poppe’s predictions are not limited to altcoins; he also forecasts that Bitcoin will climb to the $48,000-$50,000 range before the next halving event, only to experience a correction that could drop its value to between $36,000 and $38,000. This correction, he suggests, will lay the groundwork for altcoins to further gain against Bitcoin.
Chainlink Challenger Gains Momentum
The analysis extends to API3, a decentralized oracle network that stands as a competitor to Chainlink. Van de Poppe’s examination shows API3 on an upward trajectory, potentially reaching $4.60 to $4.80 if it maintains support above $2.50. His commentary follows recent movements by similar platforms such as PYTH and LINK, highlighting a growing trend in the oracle space. Van de Poppe emphasizes the importance of these oracles and their impact on the broader cryptocurrency market.
At the time of the publication, Bitcoin was valued at $42,686, yet it’s the potential of altcoins and emerging players like API3 that are capturing the analyst’s attention. Investors and crypto enthusiasts alike are keeping a keen eye on these predictions as the market prepares for its next significant shift.