Michael van de Poppe, a widely followed Bitcoin and altcoin strategist, shared his comments for various cryptocurrency projects. He announced his top altcoin picks in the midst of a market that could be considered negative. Here are the details…
Michael van de Poppe shared his altcoin preferences
Michaël van de Poppe said on Twitter that some altcoins are preparing for big rallies. These coins are Ethereum (ETH), Cardano (ADA), Avalanche (AVAX), Fantom (FTM) and Polygon (MATIC). The analyst pointed out that he purchased 1.1 million FTM for approximately $245 thousand. So, he added to his portfolio at an average of $0.21-0.22. On the other hand; He stated that he has a total of $650,000 long positions in ETH, ADA, MATIC and AVAX. The analyst seems confident that he will make a profit of 30-150 percent in these long positions and sell.
On the other hand, Van de Poppe said that if the Phantom drops below $0.175, he will exit his FTM position. At the time of writing, FTM is up over 10 percent in the last 24 hours to trade at $0.2422. So, above $0.175 that Van de Poppe pointed out. Fantom is an open source, decentralized smart contract platform for dApps and digital assets created as an alternative to Ethereum.
Analyst maintains bullish outlook in crypto space
The crypto strategist also shares the chart of Fetch.ai (FET), a platform that aims to combine technologies like machine learning, artificial intelligence, and blockchain to show why altcoins are on the rise. The analyst states that the chart he shared for FET summarizes his view on altcoins in general. Founded in 2017 and launched via IEO on Binance in March 2019, Fetch.AI is an artificial intelligence (AI) lab that creates an open, permissionless, decentralized machine learning network with crypto economy.
Looking at Ethereum, Van de Poppe says trading ETH below $1,000 is a huge opportunity for bulls. Van de Poppe says, “The triple-digit Ethereum is also the chance of a lifetime.” At the time of writing, Ethereum is trading at $1,071, up 11.2 percent in the last 24 hours. The change of ETH, the largest altcoin, in the last 7 days, appears as a loss of 26.1%.
He also says that the crypto remains bullish despite another pullback the past day. He notes that “weekend moves are often fake.” Indeed, BTC seems to have rallied above $20,000 at the time of writing, even though it slumped below $20,000 or even $19,000 over the weekend.
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