Popular crypto analyst Michaël van de Poppe announced his shift to altcoins three months ago. After that, the analyst made some changes to his altcoin portfolio. The analyst added cryptocurrencies that he thought would offer solid investment returns after the recent crash.
The cryptocurrency market is trying to recover from the crash!
Cryptocoin.comAs you have been following on , the Bitcoin and altcoin markets have been hit hard by the recent sell-off. The correction affecting different markets was due to the Japanese Yen carry trade, which caused the Nikkei to fall the most since Black Monday in 1987. Michaël van de Poppe specifically addresses the crypto market crash, which has not been seen since FTX. The analyst states that “first of all, the continued sell-off by crypto trading firm Jump Trading was due to the Japanese Yen carry trade. In this context, the analyst makes the following assessment:
And by doing that, (and doing it mostly on Ethereum (ETH)) they had to reverse that trade because otherwise they would have gotten a margin call or something. But [borsa yatırım fonu (ETF)] They have been continuously selling their ETH positions since July 26 or 24, the second day the listing went live. Since then, there has been a continuous selling pressure that accelerated throughout the weekend.
Altcoin projects included in the analyst’s portfolio
First on the list is Bittensor (TAO)
In terms of altcoins that any investor should buy, van de Poppe’s top pick is Bittensor (TAO). The analyst calls TAO “a super strong asset within the artificial intelligence (AI) sector that has bounced back 70% from its lows.” He also says it has the potential to gain another five to 10x from here. At the time of writing, TAO was trading at $279. According to the latest figures, it was down 3.5% on the day. However, it was up 10.6% for the week. The altcoin has also gained 12.8% in the past month.
Analyst also puts Aave (AAVE) in the basket
According to the crypto analyst, Aave (AAVE) is next. “It is experiencing a pretty standard and nice accumulation against Bitcoin. It is making new highs against Tether (USDT). It is consolidating before a big breakout. This is a great signal and (…) it has not seen any collapses,” the analyst says. At the time of writing, AAVE was trading at $96.65. The altcoin has been trading sideways over the past 24 hours. However, AAVE has seen a 3.47% drop in the previous seven days.
Last ranked altcoin: Aevo (AEVO)
Finally, van de Poppe recommends investing in Aevo (AEVO). Aevo is a decentralized exchange. The analyst emphasizes that “it is completely diluted and from a technical perspective, it is likely to form a bullish divergence, a falling wedge, from which it is likely to reverse.” At the time of writing, AEVO’s price was at 0.3581. This indicates a daily decrease of 3%. However, the altcoin has advanced by about 12% on its weekly chart. However, its monthly losses are still over 25%.
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