In the past week, the crypto market, excluding Bitcoin, has shrunk by 3%, and in the last month, it’s down by almost 10%. This suggests that money is moving away from altcoins, possibly causing them to lose value over time. However, some altcoins with stronger fundamentals or reduced supply could see a comeback. 

Meanwhile, well-known crypto analyst Michael van de Pop foresees this as potentially the last correction before new capital re-enters the altcoin market.

Capital Rotation Into Altcoins

According to van de Pop, the sentiment surrounding altcoins is currently pessimistic, as reflected by the declining Bitcoin valuations of various altcoins, reaching new lows. Van de Pop’s analysis suggests that the present situation in the altcoin market may mirror past trends, hinting at the potential for a similar resurgence. 

Highlighting past occurrences, van de Pop points out the impressive surges witnessed by Solana ($SOL), Fetch.ai ($FET), and Render Token ($RNDR), which recorded gains of over 500%, 650%, and 300%, respectively. 

These historical patterns serve as compelling evidence for van de Pop’s forecast of a potential altcoin resurgence. Despite the current challenges facing altcoins, relative to Bitcoin, van de Pop’s analysis suggests that the market may be poised for a turnaround similar to past rallies.

Altcoin Poised For 100% Rally

Analyst van de Pop expressed optimism for the future of altcoins. He highlighted that the alt market cap remains 50% below its all-time high from 2021, with the recent correction exacerbating the decline by an additional 30%. 

As the correction approaches its conclusion, Poppe anticipates a potential 100% rally in altcoins, mirroring Bitcoin’s trajectory.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed