The bitcoin and altcoin market is currently witnessing a short-term uptrend fueled by BTC’s recent surge above $30,000 to a new high for 2023. Bitcoin regained 50% market dominance. However, investors are looking for other digital assets ready to join the rally. Renowned crypto trading expert Michaël van de Poppe explains his views. It points to an upcoming altcoin surge by identifying three prominent coins for strategic investments.
Altcoin Curve DAO (CRV)
Despite its current ‘underwater’ price, the Curve DAO (CRV) is an asset worth watching, according to Van de Poppe. The analyst emphasizes that continued retests of support levels indicate a period of uncertainty. Major trends in the altcoin CRV’s price trajectory remain unexplained. However, the asset benefited from the overall market rally. CRV is trading at $0.67 and is down over 4% on the day. On a weekly basis, it gained over 8%.
Avalanche (AVAX)
Avalanche (AVAX) is undergoing significant recovery and retesting, showing potential for market expansion. Historical data indicates that these expansion phases are highly variable. It also shows that it takes several weeks. Investors need to strategically position themselves during such periods to take advantage of possible upside momentum. Currently, altcoin AVAX is trading at $12.91. It reflects a weekly gain of over 10%.
Chainlink (LINK)
Altcoin Chainlink (LINK) has endured a bear market since August 2020. Accordingly, it caught the attention of Van de Poppe. Also, its recovery of 2,300 satoshi is seen as a catalyst for the positive momentum in the market. The analyst emphasizes that Chainlink’s future price action is closely tied to Bitcoin’s performance. Accordingly, if Bitcoin consolidates, altcoins like Chainlink will gain momentum. On the other hand, while Bitcoin is rising, altcoins are experiencing growth in USDT values, albeit to a lesser extent. Currently, LINK is trading at $5.99, gaining over 12% weekly.
The crypto market is in the midst of factors such as inflation and regulatory threats. Accordingly, while watching Bitcoin’s performance closely, investors are watching altcoin volatility. Chainlink, Avalanche, and Curve DAO emerged as potential investment options during this period of market expansion. With strategic positioning and careful analysis, investors can capitalize on the upside momentum of these promising altcoins. As the crypto market evolves and new opportunities will emerge in the coming days. cryptocoin.com We will continue to inform you about new developments.
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