In a recent statement, famous cryptocurrency analyst Michaël van de Poppe shared his views on the current state and future prospects of the cryptocurrency market.
Van de Poppe stated that Bitcoin rose above $43,000, signaling that cryptocurrency ecosystems are starting to perform better again. He emphasized that in addition to projects such as SOL and INJ, Layer 2 solutions have started to make a significant leap forward. “There is a possibility that the correction may be over and markets are ready for another move,” he said.
According to Van de Poppe, the total market value of cryptocurrencies will move from the current $1.54 trillion to $2 trillion in the next 2-3 months. He claimed that the recent decline quickly gained upward momentum last week, indicating strong investor confidence.
Van de Poppe also suggested that it is very likely that Bitcoin has completed its correction since the ETF launch. According to the analyst, this could mean that the rotation towards altcoins will begin in the next 1-2 weeks as ecosystems succeed in their returns before Bitcoin rebounds to higher levels:
“The range is still relatively clear on Bitcoin. Assuming we see the end of the correction after the ETF launch, it looks likely we'll consolidate from here. Maybe it will rise to $48-50 thousand once again and it will be time for altcoins to perform better.”
*This is not investment advice.