finbold.com
After going all-in on altcoins four weeks ago, professional crypto trader Michaël van de Poppe has shaken up his altcoin portfolio, removing some of the cryptocurrencies he considered underperforming to replace them with better alternatives that could offer a better return on investment (ROI).
Indeed, van de Poppe explained that altcoins suffered due to the United States Securities and Exchange Commission (SEC) approving spot Bitcoin (BTC) exchange-traded funds (ETFs), but that some of them provided opportunities for strong gains, in a video streamed on his YouTube channel on June 6.
Altcoins out: ATOM and CRV
Specifically, one of the altcoins that the crypto expert has removed from his portfolio is Cosmos (ATOM), which he said was “fundamentally really strong but hasn’t been performing at all,” considering that “ATOM at this point has been seeing a correction that has been up to 50%. That is a lot.”
Furthermore, as another example of a crypto asset to remove from his portfolio, van de Poppe singled out Curve (CRV), which “has also been underperforming (…)” lately, “with a performance that’s been super-weak.,” and “continues to fall” against Bitcoin and Polygon (MATIC).
At the same time, he pointed out that these “might not be bad projects (…) but have been underperforming substantially” and “I just see less arguments of having them in my portfolio as they are underperforming heavily in the last period already.”
Altcoins in: SEI and TIA
On the other hand, the crypto market analyst pointed out that he wanted to position himself “into coins that do not have these back-holders, (…) are likely to have a higher return because the repricing didn’t take place yet” and which offer the opportunity cost of having them in his portfolio.
For instance, one of these altcoins with great potential, in his view, is Sei (SEI), which “has been seeing a (…) listing correction, and after that, it went up to close to 8x against Bitcoin even due to the fact that Bitcoin went live with the ETF.” As van de Poppe further highlighted:
“After that period, we basically went down, which means that this one is just going to rotate back up again. I think this is a very safe one actually that is just getting crushed due to the fact that Bitcoin ETF went live, so this one dropped approx. 70% since and is fuelling an opportunity.”
Moreover, the crypto trading expert mentioned Celestia (TIA) as “another one that has been providing the exact same peaks in the week of the Bitcoin ETF launch, went up 650% and corrected 75%,” reiterating his view that “those are opportunities that are substantial.”
Conclusion
All things considered, van de Poppe is a seasoned trader who has seen his share of gains and losses, risks and opportunities and is well aware of what he is getting himself into when trading crypto assets, illustrating the importance of doing one’s own research before making any major investing decisions.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Watch the entire video below: