It seems that the altcoins are seeing some pretty amazing predictions these days. Check out the latest reports about this below.Altcoins set to trade higher
According to crypto analyst Michaël van de Poppe, altcoins may be poised to trend upwards after a prolonged period of low prices.
Van De Poppe notes that the increasing number of applications for crypto exchange-traded funds (ETFs) suggests a coming surge in digital assets.
He believes that altcoins have reached a depression phase and are now ready to start trending upwards. While this may seem repetitive, many altcoins have already hit their lows or are close to doing so.
The level of interest in crypto remains the same as in 2020, and BTC pairs are slowly breaking out.
“The interest in the markets isn’t there, while we’ve got some important indicators in the meantime:
– Bitcoin spot ETF around the corner. – Ethereum spot ETF applications. – Ethereum futures ETF around the corner.
The institutions are jumping in.”
Based on the Wall Street Cheat Sheet, which outlines the emotional stages of investors during volatile market cycles, the analyst predicts that Bitcoin (BTC) is currently in the “depression phase,” where prices are at their lowest.
Next comes the “disbelief” phase, where prices will slightly rise but most investors won’t see any significance in it. The analyst, Van De Poppe, believes that Bitcoin’s price needs to move beyond the range of $24,500 to $26,800 to indicate a discount or a breakout.
“Don’t get chopped out in this range of Bitcoin. It can last for some more weeks. Ultimately ending up with a fake-out and then the real move. If we break above $26,800. I’ll be a massive buyer. If we drop to $24,500-25,000, I’ll be a massive buyer.”
Stay tuned for more crypto news and make sure to check out the latest details about what’s been going on in the market.