Bitcoin
This Crypto Trader Just Sold All His Bitcoins for Altcoins Like Cardano and XRP, Here’s Why
Cryptography expert Michaël van de Poppe recently revealed that he sold all his Bitcoins and transferred his capital to altcoins. The analyst explained the reason for this change and commented that he was doing this to acquire more main encryption later.
Why This Analyst Swapped His Bitcoin for Altcoins
In an X (formerly Twitter) publish, Van de Poppe explained that altcoins were “crushed excessively hard.” As such, he believes things can only get better from here on out, noting that “the upside (for these altcoins) cannot be denied.”
Based on his explanation, the analyst suggested that these altcoins will likely outperform Bitcoin going forward, as the leading crypto has already had its moment before the reduce by half when crypto natives swapped their altcoins for Bitcoin. Until now, Van de Poppe had already predicted that altcoins would jump their Bitcoin peers after the halving.
He too mentioned at that time, there would be a narrative shift for Ethereum. More recently, he indicated that news surrounding the Spot Ethereum ETF would trigger a rally for Ethereum and other altcoins. When explaining his decision to exchange his Bitcoins, he again touched on the topic and suggested that Ethereum would be an integral part of any move these altcoins made.
Van de Poppe stated that everyone expects the worst, that Spot Ethereum ETF applications will be denied because the SEC considers the crypto token a security. Therefore, he believes the market is already priced accordingly and can only recover from here on out, even if the SEC ends up rejecting the applications.
The crypto analyst further stated that markets could make a “significant turnaround” if the news ends up being a little better than a rejection. He also highlighted other developments that could help trigger this change. One is the FIT21 account, which the Chamber will vote on soon. This bill is expected to provide regulatory clarity for digital assets in the United States.
Van de Poppe also noted that the SEC lawsuit against Ripple is reaching a “final stage” and predicts that the crypto firm will likely secure a final victory, which could also help provide a major boost to these altcoins.
In the meantime, he hopes that Decentralized Physical Infrastructure Networks (DePIN) and Real World Assets (RWA) will be “massive”, with traditional companies transitioning to the Web3 ecosystem. As such, Van de Poppe urged his followers to “stand up” if they wanted to “make a big return.”
Van De Poppe’s Big Bet
It is worth noting that Van de Poppe The decision to exchange your Bitcoins for altcoins is not an end in itself, but a means to an end. The crypto expert expects to make a 300% to 900% return on his investment over the next six to twelve months. Van de Poppe hinted that he would rotate his capital back to Bitcoin after this period and predicted that he could achieve another 300% to 600% return on his investment, as long as Bitcoin stabilizes.
He warned of the risk of making such a bet, revealing that he currently has a drop of around 20% in his total investment. He also noted that he could still record more losses on his investment considering these altcoins may still suffer further declines in relation to their current price levels.
However, Van de Poppe added that he is okay with any outcome of his investment. Once again, he reaffirmed that he is “happily allocating” all of his capital for altcoins and concluded by stating that the upward cycle will be “glorious”.
Chart from Tradingview.com