A well-known crypto analyst predicts that altcoins will initiate a significant rally by the end of June.
In a recent post, crypto trader Michaël van de Poppe informs his 719,600 followers on X that altcoins are gearing up for a surge back to their typical values.
“The altcoins are primed for an upward trend. I anticipate a surge in momentum from late June to September – October, leading to a reevaluation back to their standard values following the major downturn earlier in the year.”
Van de Poppe also highlights the strength of three cryptocurrencies. He mentions that Bitcoin (BTC) is displaying signs of upward movement, emphasizing that if it can maintain the $70,000 price point, it may reach new record highs.
“The positive trend of Bitcoin continues. Breaking through $70,000 is crucial, and maintaining this level will pave the way for further growth towards all-time highs.”
Bitcoin is currently trading at $71,595.
Shifting focus to Ethereum (ETH), Van de Poppe suggests that the prominent smart contract platform could benefit from financial institutions obtaining approval for ETH-based exchange-traded funds (ETFs) through their S-1 filings with the U.S. Securities and Exchange Commission (SEC).
“Ethereum is concentrating on establishing a higher low. I believe the certainty surrounding S-1 approvals will drive a strong upward movement and the establishment of a higher low. It’s just a matter of being patient.”
Ethereum is currently valued at $3,847.
Lastly, discussing the layer-2 scaling solution Polkadot (DOT), the analyst mentions that there is still an opportunity to accumulate despite its gradual price increase.
“DOT is showing positive growth in fundamentals. Their focus on real-world assets (RWA) and collaboration with projects like Centrifuge and Energy Web is commendable. Despite the price slowly climbing, I think it’s still a good time to build a position.”
Polkadot is trading at $7.28.
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