Widely followed trader Michaël van de Poppe says altcoins could witness huge rallies in the coming months.
The analyst tells his 707,500 followers on social media platform
Van de Poppe says the decline is part of a strong upward trend.
“Very healthy correction in altcoin market cap, likely to break to highs in coming months as Bitcoin consolidates.”
The trader says he believes The lows have arrived for many coins and he sees “a lot of strength in the altcoin market.”
“Looking at the weekly candles in the markets, it appears that we have relatively bottomed out for most altcoins.”
Van de Poppe previously predicted that the total market capitalization for altcoins would reach a valuation of almost $1 trillion.
At the time of writing, TOTAL3 is trading at $751.125 billion.
As for Bitcoin (BTC), the trader paints a scenario where the crypto king rises to its all-time high of around $73,000 before the April halving, when rewards for miners are halved.
“Bitco continues the pace.
Dips are there to buy…
If $68,000 holds, we will reach all-time highs before the halving. I still expect there will be a peak.”
At the time of writing, Bitcoin is trading at $70,242, up more than 5% in the last 24 hours.
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