Bittensor’s 18% Surge: A Sign of Broader Crypto Market Recovery?

Bittensor (TAO) has caught the attention of crypto analyst Michaël van de Poppe, with its remarkable 18% intraday rally and an eye-popping 908% surge year-to-date. Van de Poppe sees this as an example of the market shifting positively and one which can offer traders and investors significant opportunities.

According to data from Coincodex, TAO is currently trading at $545.41, marking an 18% intraday rally and a staggering 908% increase year-to-date. It’s currently 342.23% above the 200-day SMA of $122.07 and has had 16/30 green days month-to-date. Plus, Bittensor’s market sentiment is positive, with 25 technical indicators showing bullish signals.

Van de Poppe’s Altcoin-Heavy Portfolio

Alongside TAO, he also mentioned other larger coins in his portfolio, including Optimism (OP), Celestia (TIA), and Ethereum Name Service (ENS), which he considers key investments.

In a podcast, Van de Poppe shared details about his altcoin-focused portfolio, acknowledging its high risk but also its potential for significant returns. He talked about the importance of finding newer, innovative coins with promising technology.

The analyst noted that while these assets are riskier, they could offer high rewards. He also mentioned that his focus on swing trading, rather than day trading, has been more successful in past cycles, allowing him to benefit from larger market movements.

Van de Poppe further explained that the current market, supported by increasing global liquidity from countries like China and the U.S., is favorable for altcoin growth. He predicts that altcoins will outperform Bitcoin, especially as institutional liquidity increases and key Ethereum-based projects like Eigenlayer start to make an impact on the ecosystem.

Read also: Market Analysis: Bittensor, Render, and Solana Show Promising Trends

Bullish on Altcoins and Bitcoin’s Future

The crypto expert anticipates that a growing number of undervalued altcoins will experience significant gains, and Bitcoin could reach $90,000-$100,000 by the end of the year. Despite experiencing significant drawdowns in the past, Van de Poppe remains confident in his portfolio and believes that altcoins will perform well in the near future. His approach involves calculated risk, positioning himself for gains during the next bull run by focusing on emerging projects and high-potential altcoins.