Crypto Analyst Sees Opportunities for Ethereum and Altcoins When Bitcoin Corrects

Popular cryptocurrency analyst, Michaël van de Poppe, has recently shared insights predicting a shift in the crypto market’s focus from Bitcoin (BTC) to Ethereum (ETH) and other altcoins. Speaking to his YouTube audience of 162,000 subscribers, Van de Poppe highlighted several factors poised to boost Ethereum’s performance in the near future.

 “I think the momentum is going to switch toward Ether,” the analyst started out.

He attributes this impending shift to several key developments, notably Ethereum’s Dencun update aimed at reducing fees for layer-2 transactions and the growing excitement over the potential approval of spot ETH exchange-traded funds (ETFs). These factors, he believes, are significant catalysts that will propel Ethereum, the leading smart contract platform, to new heights.

Van de Poppe emphasizes the importance of macroeconomic factors in this transition, stating, “Macroeconomic events [that are] going to take place are important to understand. Macroeconomic events in the sense that inflation is going to be sticky, perhaps they postpone the decline of the interest rates.”

He further elaborates on the positive impact of the Dencun upgrade for Ethereum, saying, “Dencun upgrade is happening on Ether which is a positive influence on the layer-2s, which is pushing the value of Ether even further up and it has been lagging heavily.” Van de Poppe also notes the potential market movements resulting from institutional interest in Ethereum, specifically mentioning, “And I think given that Franklin Templeton is also interested in doing an application for a spot Ether ETF, I think there is a likelihood that the Ether ETF is going to take over the momentum.”

Van de Poppe’s analysis comes at a time when Ethereum’s price has seen a notable increase in the past seven days, currently standing at $2,919, good for an over 10% uptick in the past week.

The analyst doesn’t stop at Ethereum; he casts a broader net over the crypto market, foreseeing a strategic shift of gains from Bitcoin to altcoins. He explains, “If the markets correct because Bitcoin corrects, I think Ether is going to correct less so that means that the Bitcoin pair (ETH/BTC) goes up. If that’s the case, you know for quite sure reasons that Bitcoin is topping out, which means rotating toward USDT partially to use that to buy the dip on altcoins is plus EV (expected value) but also rotating toward altcoins already makes a lot of sense.”