YEREVAN (CoinChapter.com) — As the price of Bitcoin (BTC) struggles below the $40,000 mark, several cryptocurrencies gear up for a possible rally. According to popular crypto analyst and trader Michaël van de Poppe, altcoins will soar against BTC soon.
The analyst predicted in a recent post on X (formerly Twitter).
“The correction has provided many opportunities across the board, as my theory is that Altcoins are going to outperform Bitcoin in the upcoming period,”
Poppe, who boasts nearly 686,000 followers, wrote.
While writing, Bitcoin exchanges hand art $39,886. The leading crypto’s price continues to slip despite the recent approval of spot Bitcoin Exchange Traded Fund (ETF) in the United States.
Bitcoin price consolidation ahead of halving event
This is not the first prediction from Poppe in recent days that shows his bullish analysis of altcoins. In another post, he drew parallels between similar patterns observed in 2016 and 2020, when the previous Bitcoin halving events took place.
According to him, the current price chart indicates that Bitcoin could be headed for consolidation, propelling altcoins to outperform.
Moreover, he believes that the upcoming altcoin will push the crypto markets above the $2 trillion mark.
“The total market capitalization for Crypto seems ready for another push towards $2.1T, but that will be done through coins other than Bitcoin,”
he insists.
Polkadot among Altcoins that will outperform Bitcoin
Michaël van de Poppe’s bullish sentiments cover a series of altcoins. Earlier this week, he had also indicated that he thinks Ethereum (ETH), the second-largest crypto by market cap, will outperform Bitcoin in the coming weeks.
He has also shared similar sentiments about other tokens like Celestia (TIA) and Covalent (CQT), among others.
In his recent post, Poppe hinted at a possible rally of Polkadot (DOT). According to him, the altcoin could experience a breakout, pushing its price to $17 per token.
The analyst attributes such a potential price surge to the highly-anticipated release of Polkadot 2.0, scheduled for this year.
Currently trading at $6.35, DOT stands as the 12th largest cryptocurrency by market cap. While the potential 180% rally towards $17 will prove to be bullish for investors, DOT price currently remains around 90% below its all-time high of $55.00 from Nov. 04, 2021.
However, while he believes Altcoins will outperform Bitcoin this season, it remains to be seen if the drop in BTC price can bring gloom to the crypto market in general.
