Crypto strategist Michaël van de Poppe believes the digital asset market is nearing the end of its extended correction phase.
According to van de Poppe, September historically marks a bullish period for cryptocurrencies, and he expects a turnaround soon.
Van de Poppe notes that altcoins are starting to show strength against Bitcoin (BTC), indicating that the worst of the market downturn might be over. He expects Bitcoin and the broader crypto market to begin a new uptrend as the month progresses.
To back his optimistic outlook on altcoins, van de Poppe highlights a chart of TOTAL3 against Bitcoin (TOTAL3/BTC). TOTAL3 represents the market cap of cryptocurrencies excluding Bitcoin, Ethereum (ETH), and stablecoins.
He points out a bullish divergence on the TOTAL3/BTC chart, suggesting that altcoins are poised for a significant breakout.
The only chart to watch.
TOTAL3/BTC looks absolutely great, with a massive bullish divergence.
This indicates that #Altcoins are on edge for a big breakout.
Shoutout @CryptoCapo_ pic.twitter.com/7Y6cInMa4F
— Michaël van de Poppe (@CryptoMichNL) August 15, 2024
Van de Poppe is also focusing on the decentralized finance (DeFi) sector, predicting it will be one of the top performers in the latter part of 2024.
He notes that the total value locked (TVL) in DeFi projects is high, particularly on Ethereum, and points to AAVE as a strong performer likely to surge if it surpasses the $135 mark.
Donors from Wall Street, Silicon Valley, and Hollywood played a key role in helping Vice President Kamala Harris’ fundraising efforts in August, giving Democrats a financial advantage over Donald Trump on the cusp of the run-off election.
Pro-XRP attorney John Deaton, who has secured the Republican nomination for a Massachusetts Senate seat, will face off against Democratic Senator Elizabeth Warren in a highly anticipated debate on October 15, 2024.
Ripple Chairman Chris Larsen has recently moved 20 million XRP as part of a larger shuffle involving 50 million tokens.
Tensions surrounding the Ripple vs. SEC lawsuit are intensifying as discussions about a potential appeal gain traction.