Crypto Strategist Foresees Major Market Rebound and Altcoin Surge – Here is When
19.08.2024 13:00 1 min. read Alexander Stefanov
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.
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