Dutch analyst Michaël van de Poppe predicts a “huge” breakout for crypto. He is particularly bullish on altcoins, as he sold all his Bitcoin some time ago to go all-in on altcoins. So far, that hasn’t worked out well, but that should change soon, according to the analyst.
Huge Breakout For Crypto
For his prediction of the “gigantic breakout” the Dutch analyst bases himself on the TOTAL chart. A chart that shows the total market cap of the industry and according to the analyst is on the verge of breaking through the major resistance at 2.66 trillion dollars.
In Van de Poppe’s chart we see that TOTAL is in a strong upward trend, driven by a series of higher lows.
“The total market cap of crypto is showing a huge bullish chart. Within two to three months from now we are going to break out to an all-time high and never come back.
This is going to be fun,” the analyst said positively. At the time of writing, the TOTAL market cap is $2.410 trillion.
Important period for altcoins
Also the TOTAL3 looks very bullish at the moment according to Van de Poppe. TOTAL3 is the total market cap of the industry minus Bitcoin, Ethereum and stablecoins.
So that really is about the “smaller” coins of the industry. Van de Poppe thinks that the TOTAL3 is about to destroy a crucial resistance at 800 billion dollars.
“It was a tough week for several altcoins, but the altcoin market cap saw a 4% correction. The total correction is over and this is just the build-up phase for the next big breakout above $800 billion,” said a still optimistic Van de Poppe.
His followers won’t be too happy with him right now, as he announced a few weeks ago that he had sold all his Bitcoin for altcoins.
Since then, however, altcoins have lost a lot of ground to Bitcoin. In that respect, it has not been a good choice yet, but Van de Poppe clearly remains confident in his strategy.
Trade €10,000 for free and get €10 bonus
Want to enter the crypto world and perhaps buy Bitcoin or another crypto? Now is your chance! Thanks to a special deal between Newsbit and Bitvavo, our readers get an exclusive offer.
Create an account at Bitvavo using the button below and receive a welcome gift of 10 euros completely free. And that’s not all – you will also pay no trading fees on your first 10,000 euros in transactions for 7 days after registering your account.* Sign up now!
*Please note that terms and conditions apply to this promotion.
Source: https://newsbit.nl/nederlandse-analist-voorspelt-gigantische-uitbraak-voor-altcoins/
