Cryptocurrency expert Michaël van de Poppe recently revealed that he sold all his Bitcoin and converted his capital to altcoins. The analyst explained the reason for this move and noted that he was doing it to acquire more shares flagship cryptocurrency Later.
Why This Analyst Swapped His Bitcoin for Altcoins
WX (formerly Twitter) postVan de Poppe explained that altcoins were “crushed unreasonably hard.” As such, he believes that things can only get better from here, noting that “there’s no denying the upside (for these altcoins).”
Based on his explanation, the analyst suggested that it was altcoins probably outperforms Bitcoin henceforth, as the flagship cryptocurrency has already had its moment before halving when cryptocurrency natives converted their altcoins to Bitcoin. Van de Poppe had previously predicted that altcoin pairs would rebound after the halving.
He too mentioned then there will be a narrative shift towards Ethereum. Recently pointed out that the news about Ethereum ETF spot would trigger an enhance in the prices of Ethereum and other altcoins. Explaining his decision to exchange his Bitcoins, he raised the issue again and suggested that Ethereum will be an integral part of any move these altcoins make.
Van de Poppe said everyone is expecting the worst, that Spot Ethereum ETF applications will be rejected because the SEC considers the crypto token a security. Therefore, he believes that the market has already been priced appropriately and can only recover from this point, even if the SEC ultimately rejects the applications.
The cryptocurrency analyst further stated that markets could make a “significant turnaround” if the news turns out to be slightly better than rejection. He also highlighted other developments that could assist trigger the move. One of them is FIT21 account, which the House will vote on soon. The bill is expected to provide regulatory clarity regarding digital assets in the United States.
Van de Poppe also noted that SEC lawsuit against Ripple is approaching the “final stage” and predicts that the crypto company will likely deliver the final victory, which could also assist boost these altcoins significantly.
Meanwhile, this is what he expects Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA) will be “huge” and conventional companies will move to the Web3 ecosystem. As such, Van de Poppe urged his followers to “allocate” themselves if they wanted to “achieve a big return.”
Van De Poppe’s Grand Bet
This is worth noting From the Poppes The decision to exchange your Bitcoins for altcoins is not an end in itself, but a means to an end. The cryptocurrency expert hopes to make a 300% to 900% return on his investment in the next six to twelve months. Van de Poppe suggested that he return his capital to Bitcoin after this period and predicted that it could achieve a further return on investment of 300% to 600% if Bitcoin stabilization.
He warned of the risks of making such a bet, revealing that his total investment has now dropped by around 20%. He also noted that given the above, he could still experience larger losses on his investment altcoins may still experience further declines from current price levels.
Van de Poppe added, however, that he was not bothered by any outcome of his investment. He again confirmed that he is “happily distributing” all his assets capital towards altcoins and concluded by saying that the Taurus cycle will be “glorious.”
Chart from Tradingview.com
