Renowned analyst Michael van de Poppe predicts a major turning point for the cryptocurrency market. Sharing his insights with his 721,600 followers on social media platform X, he pointed out that the total market value (TOTAL) is nearing a critical threshold. According to Van de Poppe, the TOTAL chart indicates a strong upward trajectory, with the market poised to break the resistance level of $2.66 trillion.
What Does the TOTAL3 Chart Indicate?
Currently, the combined value of the cryptocurrency market stands at approximately $2.410 trillion. Van de Poppe forecasts that the market will surpass its historical peak within the next two to three months. He highlighted that this period is expected to be exhilarating, with no return to former low levels, thanks to the upward trends observed in the market value chart.
Additionally, Van de Poppe evaluated the TOTAL3 chart, which excludes Bitcoin (BTC), Ethereum (ETH), and stablecoins. The chart suggests that TOTAL3 is on the brink of breaking the crucial resistance level of $800 billion. Despite a recent 4% market correction, this is seen as a precursor to significant upward momentum.
How Will Market Corrections Impact Future Trends?
At the time of analysis, the market value of TOTAL3 was $641.572 billion. Despite a challenging week for some altcoins, Van de Poppe believes the overall market correction is now complete. He anticipates this correction will pave the way for a major breakout above $800 billion, leading to a strong rally in altcoins.
Key Takeaways for Investors
• Monitor the TOTAL and TOTAL3 charts closely for resistance level breaches.
• Prepare for potential altcoin rallies if the market follows Van de Poppe’s predictions.
• Consider strategic investments in altcoins as they might see a substantial rise.
Should the analyst’s forecast hold true, an altcoin season could be on the horizon, a long-anticipated phase for cryptocurrency investors. With Bitcoin prices climbing towards $70,000, optimism is reignited in the cryptocurrency sphere. Additionally, recent comments by Donald Trump on Saturday have also stirred the market, adding to the anticipation.