Michaël van de Poppe, founder of MN Trading Consultancy, is making a bold move by going all-in on altcoins. He cites a range of bullish market indicators that suggest a major upswing is on the horizon.
Van de Poppe acknowledges the inherent risks of this strategy. However, as a seasoned crypto strategist, he claims to have successfully employed the technique in previous cycles, reaping massive investment returns.
I’m All-In #Altcoins, What’s The Status?
Being all-in altcoins is a risky strategy, as it might provide a high return, but could also damage your portfolio extensively.
I talk about this in my recent video here: https://t.co/jq0gMTyEHU
Being all-in altcoins isn’t unfamiliar to… pic.twitter.com/uFp3ljfwYv
— Michaël van de Poppe (@CryptoMichNL) July 21, 2024
Numerous factors, including Bitcoin’s recent underperformance compared to the broader market, support van de Poppe’s confidence in altcoins. He attributes Bitcoin’s slower growth to the Mt. Gox BTC movements. With falling yields and a weakening dollar, he believes this trend will soon reverse, with Bitcoin poised to reach new all-time highs.
Additionally, van de Poppe highlighted how the market absorption of Germany’s sale of nearly $3 billion worth of Bitcoin in recent weeks. This massive sale caused Bitcoin’s value to revisit $53,500 this month, dealing a more significant blow to altcoins. However, the market has since rebounded, with Bitcoin touching $68,700 earlier today and many altcoins establishing new monthly highs.
The end of the miner capitulation phase is another source of van de Poppe’s bullish sentiment. Before the German government’s Bitcoin sales, BTC miners were the primary source of bearish sentiment, but this trend has recently subsided.
Moreover, van de Poppe is bullish on the growing geopolitical significance of cryptocurrencies, particularly amid rising inflation and social unrest. With Ethereum ETFs on the horizon, he believes crypto assets are a must-have in any portfolio.
While acknowledging the risks associated with his strategy, van de Poppe remains undeterred. He notes, “If you can’t handle the lows, you won’t have the highs,” suggesting there could be bearish phases even as the bull market continues.
Per the disclosure, he had previously lost 70% of his BTC value in months in the last cycle, only to see his portfolio increase by over 100x in the subsequent bull market.
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