The cryptocurrency market is buzzing with anticipation as analysts predict a significant rise for altcoins in the coming months. This positive outlook brings the global market value to $2.35 trillion. It also follows a period of weak performance, with market sentiment improving slightly from neutral territory.
Michaël van de Poppe made a statement for altcoins
Leading analyst Michaël van de Poppe believes a market-wide rally is imminent due to signs of slowing economic activity. He points to recent US labor market data that underscore rising unemployment and lower-than-expected wage growth. These factors will force the FED to ease monetary policy, Van de Poppe said. It will then lead to a resurgence of quantitative easing and interest rate cuts. This will support risky assets, including cryptocurrencies.
Van de Poppe predicts a return to the bullish zone for Bitcoin, potentially exceeding the $61,600 mark. He also suggests that the recent market downturn represents a buying opportunity. Because it emphasizes that altcoins are ready for a significant rise after a period of consolidation. In fact, it is currently around 880-920 billion dollars. It predicts a potential run towards all-time highs for the altcoin market cap.
There is an expectation of viability
This bullish feeling extends beyond van de Poppe. The overall recovery in the market, although modest, has evoked a sense of optimism. Additionally, interestingly, van de Poppe expects a resurgence of retail investor participation, which will likely return to the market once altcoins experience significant gains.
Amid this positive outlook, some specific crypto price predictions are gaining traction. Bitcoin is expected to experience a significant increase and potentially reach $80,000 this month. Analysts are pointing to potential technical breaks above the $68,200 and $73,000 resistance levels, as well as historical trends that have traditionally favored Bitcoin in May. However, some analysts warn that the bearish trend could sink Bitcoin to $54,000.
Will there be a change in meme coins?
Another interesting prediction revolves around meme coins. Meme coin market cap has shown impressive growth recently, with an increase of 11% in the last 24 hours. This strong performance, combined with the historical success of meme coins like Dogecoin, led analysts to predict a “meme season” in May, when meme coins could become the most profitable crypto investments. New meme coins are emerging that some consider promising, such as Dogwifhat, Popcat and Real Smurf Cat. This further strengthens the prediction.
Finally, the highly anticipated decision by US regulators regarding the Ethereum Spot ETF continues to cast a shadow. As the deadline for the SEC’s decision approached, a veil of secrecy surrounded the application. The success of the Bitcoin Spot ETF has intensified investor interest in the Ethereum ETF. However, ongoing debates regarding Ethereum’s classification as a security or commodity have stalled progress. Analysts now predict a delay in the SEC’s decision, citing the prolonged silence and the tense atmosphere surrounding the filing.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.