Michael van de Poppe believes altcoins are ready to rally

The analyst gave a number of arguments in favor of the fact that altcoins will soon show growth. In particular, he pointed to the last meeting of the US Federal Reserve, which, in his opinion, was the most hawkish of the year.

Michael van de Poppe recalled that in October 2023, when bond yields peaked, many altcoins showed significant gains of 5 to 10 times against bitcoin. After that, BTC began to strengthen its position, which led to a decline in the rates of altcoins relative to the first cryptocurrency.

The expert also drew attention to the cyclicality of the crypto market and as a vivid example cited the Chainlink coin, which after the correction in the first half of 2022 grew by 120% in the second half of the year. The situation was the same in 2023, when Chainlink's price increased by almost 150% in the second half of the year.

The investor points out that the same thing is happening this year, when the market is witnessing a strong downward movement of altcoins (Chainlink has corrected by more than 60%) and the second half of 2024 looks promising for a reversal.

Michael van de Poppe emphasized that only one condition needs to be met for altcoins to start growing - the launch of an ETH-ETF in the US, and once that happens, altcoins will show rapid growth.