Michael van de Poppe: Altcoin Season Is Coming as Ethereum ETFs Get Approved in the US

In a recent video, renowned cryptocurrency analyst Michael van de Poppe stated that the altcoin market is poised for a significant rise

Cryptocurrency analyst Michael van de Poppe anticipates a substantial rise in the altcoin market, coinciding with the approval of Ethereum ETFs in the U.S.

With Ethereum price surging over 25% against Bitcoin in a week, the broader cryptocurrency market has received a significant boost, presenting strong potential for altcoins to follow suit.

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Typically, we observe altcoin seasons occurring in cycles, where Bitcoin leads the rally, followed by Ethereum and other altcoins. With the substantial rise in Ethereum's price, we can anticipate this pattern to emerge.

Considering the current market sentiment and the approval of Ethereum ETFs, the stage is set for a major altcoin season.

In light of these factors, van de Poppe believes this is the last opportunity to accumulate altcoins at a low price before the rally begins.

Meanwhile, the analyst has highlighted 5 altcoins that he expects to outperform major cryptocurrencies:

Optimism

Optimism (OPm/USD) is a layer-2 blockchain that operates on the Ethereum network. It maintains security and decentralization while enhancing scalability and reducing transaction costs. With nearly 30% of its market value locked in the ecosystem, the OP token holds high potential for substantial gains.

At the time of writing, Optimism token is trading at $2.45. Van de Poppe anticipates a price increase of around 300% to 800% against Bitcoin over the next six months.

Arbitrum

The recent announcement that Arbitrum will be releasing 225 million ARB tokens, valued at approximately $250 million, for the Gaming Catalyst Program (GCP) has attracted attention.

Despite strong performance in recent weeks, the Arbitrum ecosystem is poised for further growth with strong fundamentals and ecosystem development, making it a promising investment.

At the time of writing, ARB token is currently trading at $1.13. Van de Poppe expects ARB to rally by around 250% to 300% against Bitcoin as it recovers from recent lows.

WO Network

WO Network (WOO/USD) is a decentralized exchange that offers ultra-fast execution response times and high liquidity.

As the Ethereum ecosystem continues to expand, decentralized exchanges like WO Network stand to benefit significantly from the increasing trading volumes. Van de Poppe anticipates WO prices to range from 300% to 800%, driven by the growing use of decentralized exchanges worldwide.

Wormhole

Van de Poppe anticipates a price increase of around 200% to 400% for Wormhole (W/USD).

Dogecoin

Dogecoin, a well-known meme coin, has garnered strong community support. Despite a 81% drop from its peak, Dogecoin is poised for a substantial comeback, especially as other meme coins gain popularity.

Van de Poppe anticipates a price increase of around 400% to 500% for Dogecoin, driven by the current meme coin craze.

With the launch of Bitcoin ETFs in the U.S., we've observed a shift in capital from altcoins to Bitcoin, putting pressure on the altcoin market. However, this trend is now reversing.

The approval of Ethereum ETFs will likely lead to a new round of investment in altcoins. Considering historical trends, where altcoins have performed best in the second half of the year, now is the optimal time to invest.