A prominent cryptocurrency analyst predicts a volatile fourth quarter for altcoins, but believes Ethereum will end the cycle with a massive rally against Bitcoin.
Michaël van de Poppe, a popular crypto strategist, told his 443,3000 Twitter followers that it is probable that Ethereum will rally 200 percent in Bitcoin (ETH/BTC) in the coming months.
However, he warns that BTC could dominate the markets against altcoins by December. According to the trader, December is historically seen as the best month to buy digital assets other than Bitcoin. Poppe thinks that the bull market for altcoins will continue from December to the first quarter of 2022.
“December is usually the best period to buy altcoins. If history repeats itself, we could see a 200 percent increase in ETH/BTC from there to the ATH (all-time high) region, but before While Bitcoin is doing well, it is possible that we will experience a more severe correction.”
While Van de Poppe may be bearish in altcoins in the short term, he believes digital assets will eventually follow Bitcoin’s lead.
Taking a closer look at Bitcoin, Van de Poppe makes a prediction about the price action of BTC in the coming weeks.
“We still don’t see much strength in the altcoin market. So, it’s still not the right time to be in altcoins, and in the scenario I’ve done here, I assume we’ll still see strength in Bitcoin in the coming weeks. A test of $70,000 will likely occur within a month from now, before making a final corrective move. Before ending this whole bull cycle and testing another all-time high [59.405 dolar-61.213 dolar] We’ll retest the range. ”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.