Van de Poppe Predicts Volatile Altseason, ETH/BTC To Rally 200%
According to top cryptocurrency analyst and trader, Michaël van de Poppe, altcoins will be very volatile during Q4. He also predicts that Ethereum will make big moves against Bitcoin.
The crypto market analyst shares his 444.6K Twitter followers that it if past performance is of any indication, Ethereum could well rally 200% against Bitcoin (ETH/BTC) in the coming months.
At the same time, he warns that Bitcoin might be leading the markets at the expense of altcoins until December. December is historically is the month to buy digital assets other than Bitcoin, he tweeted.
“December is often the best period to buy altcoins.
If history repeats, we might be getting a run of 200% on ETH/BTC towards the ATH (all-time high) region from there, but first, a heavier correction while Bitcoin does well.”
December is often the best period to buy #altcoins.
If history repeats, we might be getting a run of 200% on $ETH/BTC towards the ATH region from there, but first a heavier correction while #Bitcoin does well. pic.twitter.com/Op0grUEq3L
On short-term Van de Poppe is bearish on altcoins, but he predicts altcoins will later in Q4 follow Bitcoin’s bull run.
#Bitcoin to $70-75K before we get a correction and retest of the ATH region and then we're going to blast ourselves into a massive run, including #altcoins.
Regarding Bitcoin, the trader expects to see more strength on Bitcoin in coming weeks and predicts the leading crypto to test $70,000 level, before correction and final leg up.
“We still are not seeing too much strength on the altcoin market. So, it’s still not the right time to be in them, and I’m assuming we’re still going to see strength on Bitcoin for the coming weeks in the scenario that I’ve made here in which a test of $70,000 is most likely going to take place within a month from now before we get a final corrective move, retest of the range [$59,405-$61,213] that we’ve been cracking through before we’re going to test a new all-time high region and going to finalize this entire bull cycle.”
