Crypto Expert Says ‘Prepare Yourself’ For Massive Altcoin Run, Here’s Why
05 Marzo 2024 - 12:00AM
NEWSBTC
Cryptocurrency analyst, Michael van de Poppe has alerted the
broader cryptocurrency community about an upcoming altcoin rally.
The analyst has cited the recent upward trend experienced by
Bitcoin as a positive signal for this prediction. Get Ready
For Major Altcoin Run In a recent X (formerly Twitter) post, Poppe
suggested that altcoins are poised to become the next in line for
the 2024 bullish momentum. Citing Bitcoin’s recent upward surge to
over $60,000, the crypto analyst has disclosed that this
substantial price increase is a clear signal for a potential
altcoin rally in the market. Related Reading: Bitcoin
Profitability Reaches 97% For The First Time In Over 2 Years He
predicts that during this potential altcoin run, major
cryptocurrencies may experience substantial surges that could
potentially push their prices far above their previous all-time
highs. In light of this, the crypto analyst has advised the broader
cryptocurrency community to remain vigilant and make necessary
preparations for this anticipated bullish event. Lately,
market sentiment has been indicating a shift from Bitcoin
investments to meme coins and other major altcoins. Just last week,
a Solana-based memecoin, Dogwifhat (WIF) experienced a massive
surge, propelling its price to $1 and boasting a year-to-year gain
of over 90%. Furthermore, popular altcoins like Solana and
Cardano have witnessed significant price increases and growth in
their respective markets. On March 1, Solana’s price surged to
two-year highs, skyrocketing above $136. Conversely, Cardano
recorded a boost in its adoption rate, with the total number of
Cardano wallets in the ecosystem approaching 4.6 million.
These subtle developments are indicating a potential shift in the
market dynamics of altcoins, as an increasing number of
cryptocurrencies are beginning to mirror Bitcoin’s bullish
momentum. Altcoins Gearing To Pump A crypto analyst,
identified as “Dami Defi” on X has disclosed that recent market
trends are signaling that “altcoins are getting ready to pump.”
Dami Defi’s predictions are anchored in the diminishing dominance
of Bitcoin in the cryptocurrency market. He explained that when the
market capitalization of the entire crypto market is on the rise
and simultaneously, Bitcoin’s dominance decreases, it often signals
a healthy and widespread bull market in the crypto space.
Related Reading: Crypto Exchange Says Cardano Price Can Reach $165,
Here’s When According to the analyst, this scenario implies that
the market’s growth is not solely focused on Bitcoin but would also
potentially be distributed across various altcoins. He has revealed
that despite Bitcoin’s recent price rally, the cryptocurrency has
been experiencing notable outflows, with a substantial portion of
these funds moving into altcoins. “If we continue to see BTC
dominance go down and total 3 resistance gets broken, all hell will
break lose and altcoins will pump crazy,” Dami Defi stated.
Altcoins market cap at $1.08 trillion | Source: Crypto Total Marekt
Cap Exclusing BTC Featured image from Coinpedia, chart from
Tradingview.com
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