Michael Van de Poppe, one of the leading analysts in the crypto money market, stated that these altcoin projects are on the rise, with the leading cryptocurrency Bitcoin falling below $ 30 thousand, in his crypto money analysis in his YouTube report dated May 6, 2023! According to the expert name, these altcoin projects can explode! Here are the details…
Analyst: “These 3 altcoin projects could benefit from Bitcoin’s fall!”
While Bitcoin (BTC) is consolidating below the $30,000 level, the focus in the cryptocurrency market has shifted to altcoin projects. Along these lines, popular cryptocurrency analyst Michaël van de Poppe highlighted this trend, noting that several altcoins are showing signs of booming and gaining traction.
In a YouTube video posted on May 6, the prominent analyst suggested that the current crypto market run may be approaching its final stage, as evidenced by the sustained bullish trend in the Bitcoin dominance chart. He predicts that if Bitcoin breaks $30,000, its dominance will increase until it consolidates and money will flow into Ethereum (ETH) and other altcoins. For this reason, the expert name pointed to 3 altcoin projects that should be considered while turning attention to altcoins.
Ethereum (ETH)
While Ethereum (ETH) saw an increase in value in the process leading up to the Merge upgrade, it experienced a correction after the Shanghai upgrade. Along these lines, Poppe sees the move as a downtrend, as evidenced by the lower highs and lows. According to the analyst, if Bitcoin breaks out to the upside, it seems likely that Ethereum will be tested. However, this may have little effect on the price. If Bitcoin crashes, Ethereum will remain stable, but a volatile upward move for Bitcoin could lead to a drop in Ethereum’s value against BTC.
Poppe predicts that investors should watch Ethereum rise above the previous low against Bitcoin, which could trigger an expansion and cause other cryptocurrencies to follow suit. Currently, Ethereum is trading at $1,902.
Looking ahead, Ethereum’s prospects look bright, especially in light of the network’s transition to an energy-efficient, proof-of-stake (PoS) protocol. However, some analysts have consulted artificial intelligence (AI) platform ChatGPT regarding Ethereum’s potential price action in 2025. The AI bot predicted a trading range of $4,000 to $10,000 for the digital asset, underlining the bullish outlook for Ethereum’s future performance.
Chainlink (LINK)
According to Poppe’s analysis, there is still potential for Chainlink (LINK) to rally in the coming days, noting that it is in the accumulation phase. LINK notes that the May 2022 low of around $6.5 has been retested, with tests of double bottoms typically triggering a reversal. This indicates that the time has come for investors to accumulate their positions on Chainlink. At the current valuation, the analyst noted that Chainlink is underperforming. LINK, in particular, has recorded mixed price movements despite increased network activity in recent weeks. Instantly, LINK is trading at $ 6.98.
Pepe Coin (PEPE)
The first altcoin on the expert’s list is PEPE. PEPE has been gaining traction in recent weeks and the analyst noted that PEPE is still somewhat bullish in the coming days ‘until proven otherwise’. Observing that if Pepe’s price remains stable or increases slightly, it will result in a bounce. Conversely, if the downtrend is followed by a significant uptrend, it will result in a decline. However, popular analyst Poppe points out that despite its recent gains, PEPE is not a good investment. Instantly, PEPE is trading at $0.00000286.
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