dailyhodl.com
A widely followed crypto analyst says that altcoins are poised to spark a massive rally starting at the end of June.
In a new thread, crypto trader Michaël van de Poppe tells his 719,600 followers on the social media platform X that altcoins are gearing up for a ride “back to normal values.”
“The altcoins are ready for their upwards run. I think we’ll be seeing a lot of momentum from late June until September – October. A repricing back to their normal values after the big cascade of the first period of the year.”
Van de Poppe goes on to say that a trio of cryptocurrencies are also showing strength. According to the trader, Bitcoin (BTC) is flashing signs of upward momentum, noting that if the crypto king can hold the $70,000 price level, it could reach new all-time highs.
“The upwards momentum [of] Bitcoin continues to happen. $70,000 broke upwards, through which the important level is to hold $70,000 now for continuation to the all-time high.”
Bitcoin is trading for $71,595 at time of writing.
Moving on to Ethereum ($ETH), Van de Poppe says the leading smart contract platform by volume would benefit from financial institutions getting their S-1 filings for $ETH-based exchange-traded funds (ETFs) approved by the U.S. Securities and Exchange Commission (SEC).
“Ethereum focusing on generating that higher low. I think certainty regarding the S-1 approvals is going to lead to a strong upwards move and the higher low. Just a matter of patience.”
Ethereum is valued at $3,847 at time of writing.
Concluding his analysis with layer-2 scaling solution Polkadot ($DOT), the analyst says there’s still time to accumulate despite its price slowly moving upwards.
“$DOT is doing great in fundamental growth. They are focusing on RWA (real-world assets) and have multiple great projects within the ecosystem (Centrifuge and Energy Web). Right now, the price starts to crawl upwards and I think it’s still a great time to accumulate a position.”
$DOT is trading for $7.28 at time of writing.