- Potential Growth of Altcoins: Expert's Opinion
- Ethereum Price Momentum: An Analysis
- Experts’ Conclusions
Many crypto experts predict that the fourth quarter of the year will be a bullish phase for the cryptocurrency market. Renowned cryptocurrency analyst Michael van de Poppe recently shared his optimistic view on the potential for significant altcoin growth soon.
Potential Growth of Altcoins: Expert's Opinion
Looking at the Crypto Total Market Cap Excluding Top 10 chart, it is evident that the Altcoin market cap has witnessed a sharp increase recently. It has grown from $189.62B to $212.041B in just four days. Michael van de Poppe predicts that the Altcoin market will continue to rise for at least four to eight weeks. He cites the latest macroeconomic developments, like the Bank of Japan’s decision to keep interest rates unchanged and the US Federal Reserve’s plan of cutting interest rates, as key factors contributing to the latest bullish trend in the crypto market, especially in the Altcoins market.
Ethereum Price Momentum: An Analysis
The most prominent Altcoin, Ethereum, has seen a notable 7-day growth of 8.4%. Looking at the daily chart of Ethereum/Bitcoin, it is clear that it has undergone a trend reversal lately. At the start of the year, ETH was at just 0.05396 BTC. A massive momentum emerged on January 9, taking the price to a peak of 0.06017 BTC from 0.4965 BTC in just five days. Later, the market witnessed a period of volatility, oscillating between 0.05190 BTC and 0.06019 BTC. On March 8, it marked the beginning of a sharp downturn. By May 16, the market touched a low of 0.04514 BTC. On May 17, a massive upward momentum reappeared, lifting the price to a peak of 0.05569 in a short span of one week. On June 29, once again the market faced a massive downfall, pulling the price from around 0.5588 BTC to 0.03843 BTC. Yesterday, the market showed the first sign of recovery from the downtrend. Currently, Ethereum stands at 0.04009 BTC. Many experts are now adjusting their Ethereum price predictions based on this upward momentum.
Experts’ Conclusions
Experts like Michael van de Poppe consider this as a remarkable feat by Ethereum and an indication that the Altcoin market is likely to see a massive bullish trend soon.
Based on the analysis of current market trends and leading experts' opinions, the coming months could be favorable for the cryptocurrency market, especially for the altcoin sector.
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