Crypto: Why could altcoins soon explode?

Despite recent market turbulence, optimists firmly believe in a crypto comeback. As the market goes through a correction phase, some experts predict a strong return of altcoins, driven by solid fundamentals.

Signs of Crypto Recovery

Yesterday, Bitcoin showed encouraging signs, suggesting a possible end to its free fall. This rebound has rekindled hope among investors that the crypto market might be on the verge of a recovery.

Michael van de Poppe, a renowned crypto analyst, pointed out that this correction could be the last before new capital flows into altcoins.

This chart explains it all. The #Altcoin sentiment is terrible currently, as the BTC valuations of all the altcoins are reaching new lows.

The last time this happened:$SOL went +500%$FET went +650%$RNDR went +300%

This time, altcoins are likely to do the same. pic.twitter.com/KYpzPqwDKV

— Michaël van de Poppe (@CryptoMichNL) June 22, 2024

Last week, the crypto market, except for Bitcoin, retreated by 3%, while last month, it fell by nearly 10%.

However, altcoins like Solana, Fetch.ai, and Render Token are showing signs of potential spectacular rebounds, with anticipated increases of 500%, 650%, and 300% respectively.

This Bitcoin turnaround could therefore signal a similar growth phase for these secondary cryptos.

Optimism for Altcoins

Despite the prevailing pessimism, Michael van de Poppe remains optimistic about the future of altcoins, states CoinPedia. He notes that the market cap of altcoins is currently 50% below its all-time high of 2021.

With the recent correction amplifying their decline by 30%, the current situation could be setting the stage for a significant recovery.

History shows us that correction periods often precede impressive rallies. For example, Solana, Fetch.ai, and Render Token have already experienced spectacular increases in similar contexts.

Van de Poppe believes this trend could repeat, leading to a potential 100% increase in altcoins. This forecast is supported by solid fundamentals and a reduced supply of certain altcoins, suggesting that the worst may be behind us.

In conclusion, despite recent declines, cryptos could experience a major recovery. The question remains: will this comeback mark a new turning point for the crypto market?