Crypto Trader Michael Van De Poppe Highlights Runs In Solana, Meme Coins, Predicts ‘There Is Always An Altcoin Season’ By Benzinga

Benzinga – Prominent cryptocurrency trader Michael van de Poppe in a recent podcast shared his insights on the upcoming altcoin season and the importance of understanding market rotations to maximize returns.

What Happened: Van de Poppe believes that by identifying opportunities in altcoins and strategically rotating profits back into Bitcoin (CRYPTO: BTC), investors can outperform the market and maintain their purchasing power in the face of inflation. He emphasizes these strategies for generating higher returns.

According to van de Poppe, the recent Bitcoin Halving has triggered a potential rotation in the market, with altcoins showing signs of strength. He points to the Bitcoin (CRYPTO: BTC) dominance chart as a key indicator, noting that the current upward trend is longer than previous cycles, suggesting a potential shift towards altcoins.

“If you look at it from a Bitcoin perspective and probably a lot of Bitcoin maxis are going to be saying there won’t be any alt season, well, there’s always an alt season,” van de Poppe asserts, citing recent runs in Solana (CRYPTO: SOL), meme coins and AI-related projects. Over the past year, Solana has reported a 450% gain while there is much talk about a “memecoin supercycle.”

Also Read: ‘Spectacular Meme Runs’ Mean These Three Altcoins Could Be ‘Doomed To Irrelevancy,’ Muses Veteran Trader

Why It Matters: Van de Poppe also discusses the concept of market cycles, arguing that each cycle is getting longer due to increased liquidity and the growing impact of mass adoption. He predicts that the current cycle could extend until 2026 or 2027, with Ethereum (CRYPTO: ETH) potentially leading the charge among altcoins.

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He recommends a strategic trading approach to capitalize on the upcoming altcoin season: Identifying altcoins that have already shown strength and are in an uptrend, then rotating profits into coins that are likely to follow suit. In his opinion, Bitcoin and Ethereum are still relatively undervalued compared to its potential upside.

He also notes Chainlink (CRYPTO: LINK) is currently valued at its lowest point in the cycle, making it an attractive investment opportunity. If Chainlink breaks through the $27 resistance level and consolidates, it would be a good trigger to establish a heavy position.

What’s Next: The influence of Ethereum and Bitcoin as an institutional asset class are topics expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Crypto Trader Describes His Technique To ‘Spot Altcoins Before A 100X Surge’

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image: Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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