Altcoins Gearing Up To Outperform Bitcoin Following ‘Very Healthy’ Correction: Trader Michaël van de Poppe

Bitcoin

Altcoins Gearing Up To Outperform Bitcoin Following ‘Very Healthy’ Correction: Trader Michaël van de Poppe

Widely followed trader Michaël van de Poppe says altcoins are in a position to witness massive rallies in the coming months.

The analyst tells his 707,500 followers on the social media platform X that the TOTAL3 chart, which traders use to track the performance of the altcoin market, witnessed an over 16% devaluation during the most recent correction.

Van de Poppe says the pullback is part and parcel of a strong uptrend.

Source: Michaël van de Poppe/X

The trader says he believes the lows are in for many coins and that hes seeing “a lot of strength on the altcoin market.”

Van de Poppe previously predicted that the total market cap for altcoins would hit a valuation of nearly $1 trillion.

At time of writing, TOTAL3 is trading for $751.125 billion.

As for Bitcoin (BTC), the trader lays out a scenario where the crypto king rallies to its all-time high at around $73,000 before the April halving, when miners rewards are cut in half.

Source: Michaël van de Poppe/X

At time of writing, Bitcoin is trading for $70,242, up over 5% in the last 24 hours.