bitcoin-150000-40-correction/” rel=”nofollow”>Cryptography expert Michaël van de Poppe He recently revealed that he had sold all of his bitcoin and rotated his capital into altcoins. The analyst explained the reason for this move and commented that he was doing it to acquire more bitcoin-reserves/” rel=”nofollow”>flagship crypto later.
Why this analyst traded his bitcoin for Altcoins
In an x (formerly twitter) x.com/CryptoMichNL/status/1791129582810079669″ rel=”nofollow”>mail, Van de Poppe explained that altcoins have been “crushed unreasonably hard.” As such, he believes things can only get better from here, noting that “the upside (of these altcoins) cannot be denied.”
Related reading
Based on his explanation, the analyst suggested that these alternative currencies probably outperform bitcoin from now on as a flagship crypto already had its moment before the bitcoin-bull-market-glassnode/” rel=”nofollow”>reduce by half when crypto natives swapped their altcoins for bitcoin. Until now, Van de Poppe had already predicted that altcoins would bounce off their bitcoin peers after the halving.
He too mentioned Back then, there would be a narrative shift towards ethereum. More recently, he indicated that the news surrounding the ethereum-etf-odds-underestimated-coinbase/” rel=”nofollow”>ethereum Spot ETF would trigger a rally for ethereum and other altcoins. While explaining his decision to trade bitcoin, he touched on this again and hinted that ethereum would be an integral part of any move these altcoins made.
Van de Poppe stated that everyone expects the worst: that Spot ethereum ETF applications will be rejected because the SEC considers the crypto token to be a security. Therefore, he believes that the market is already discounted accordingly and from now on it can only recover, even if the SEC eventually rejects the applications.
The crypto analyst further stated that markets could do a “significant U-turn” if the news ends up being a little better than a rejection. He also highlighted other developments that could help trigger this measure. one is the crypto-faces-2-crucial-weeks-in-us-congress/” rel=”nofollow”>FIT21 invoice, which the House will vote on soon. This bill is expected to provide regulatory clarity for digital assets in the United States.
Van de Poppe also noted that the The SEC lawsuit against Ripple is reaching a “final stage” and predicts that the crypto company will likely achieve a final victory, which could also help provide a big boost to these altcoins.
In the meantime, wait Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA) will be “massive,” with traditional companies transitioning to the Web3 ecosystem. For this reason, Van de Poppe urged his followers to “sign up” if they wanted to “get a great return.”
Van De Poppe's big bet
It should be noted that ethereum-breakout/” rel=”nofollow”>From the Pope The decision to exchange your Bitcoins for altcoins is not an end in itself, but a means to an end. The crypto expert expects to earn a 300% to 900% return on his investment in the next six to twelve months. Van de Poppe hinted that he would rotate the capital from him back to bitcoin after this period and predicted that you could get another 300% to 600% return on your investment as long as bitcoin-price-suffers-sharp-decline/” rel=”nofollow”>bitcoin stabilizes.
Related reading
He warned about the risk of making such a bet, revealing that he currently has a loss of around 20% on his total investment. He also commented that he could still record more losses on his investment, considering these alternative currencies they could still experience further declines from their current price levels.
However, Van de Poppe added that he is fine with whatever the outcome of his investment is. He again reaffirmed that he is “happily allocating” all his capital towards altcoins and concluded by stating that the bullish cycle will be “glorious.”
Chart by Tradingview.com
