This Crypto Trader Just Sold All His Bitcoin For Altcoins Like Cardano And XRP, Here’s Why
18 Mayo 2024 - 5:00PM
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Crypto expert Michaël van de Poppe recently revealed that he had
sold all his Bitcoin and rotated his capital to altcoins. The
analyst explained the reason for this move and remarked that he was
doing this to acquire more of the flagship crypto later on. Why
This Analyst Swapped His Bitcoin For Altcoins In an X (formerly
Twitter) post, Van de Poppe explained that altcoins have been
“crushed unreasonably hard.” As such, he believes things can only
improve from here on, noting that the “upside (for these altcoins)
can’t be denied.” Related Reading: Crypto Analysts Reveal
Sub-$1 Altcoins Set To Outperform In The Bull Run Based on his
explanation, the analyst suggested that these altcoins will likely
outperform Bitcoin from here on as the flagship crypto already had
its moment before the halving when crypto natives swapped their
altcoins for Bitcoin. Before now, Van de Poppe had already
predicted that altcoins would make a bounce in their Bitcoin pairs
post-halving. He also mentioned back then that there would be
a narrative shift to Ethereum. More recently, he indicated that the
news around the Spot Ethereum ETF would trigger a rally for
Ethereum and other altcoins. While explaining his decision to swap
his Bitcoins, he again touched on this and hinted that Ethereum
would be integral to any move these altcoins make. Van de
Poppe claimed everyone expects the worst, that the Spot Ethereum
ETF applications will be denied because the SEC considers the
crypto token a security. Therefore, he believes the market is
already priced in accordingly and can only recover from here on,
even if the SEC eventually rejects the applications. The
crypto analyst further claimed that the markets could make a
“significant U-turn” if the news ends up being slightly better than
a rejection. He also highlighted other developments that could help
trigger this move. One is the FIT21 bill, which the House will soon
vote on. This bill is expected to provide regulatory clarity for
digital assets in the United States. Van de Poppe also noted
that the SEC’s lawsuit against Ripple is coming to a “final stage”
and predicts that the crypto firm will likely secure a final
victory, which could also help provide a major boost for these
altcoins. Meanwhile, he expects that Decentralized Physical
Infrastructure Networks (DePIN) and Real World Assets (RWA) will be
“massive,” with traditional companies transitioning into the Web3
ecosystem. As such, Van de Poppe urged his followers to “allocate”
themselves if they wanted to “make a large return.” Van De Poppe’s
Big Bet It is worth noting that Van de Poppe’s decision to swap his
Bitcoins for altcoins isn’t an end in itself but a means to an end.
The crypto expert hopes to make a return of 300% to 900% on his
investment in the coming six to twelve months. Van de Poppe hinted
that he would rotate his capital back to Bitcoin after this period
and predicted that he could make another 300% to 600% return on his
investment as long as Bitcoin stabilizes. Related Reading: Crypto
Expert Willy Woo Predicts Bitcoin Has Room To Run – Here Are The
Drivers He warned of the risk of taking such a bet, revealing that
he is currently down around 20% on his overall investment. He also
remarked that he could still post more losses on his investment,
considering these altcoins could still experience further declines
from their current price levels. However, Van de Poppe added
that he is fine with whatever the outcome of his investment is.
Again, he reaffirmed that he is “happily allocating” his entire
capital towards altcoins and concluded by stating that the bull
cycle will be “glorious.” Chart from Tradingview.com
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