Most crypto analysts describe the rise of the altcoin market against Bitcoin (BTC) in the coming months as unavoidable. More investors have been betting on the rise of Ethereum (ETH) since the Solana (SOL) and Injective (INJ) uproar. By now, it is safe to assume that the rise of the Ethereum price signals the onset of the altcoin market.
Moreover, Ethereum provides liquidity to the majority of the altcoin market. Additionally, Ethereum price has in the past crypto bull market cycles led the altcoin market in upward momentum following a bullish Bitcoin performance in the preceding months.
Poppe’s Altcoin’s Watchlist
With Bitcoin price expected to consolidate in the range between $38k and 49k in the coming months, popular crypto analyst Michaël van de Poppe expects Ethereum price and its top layer two networks – led by Arbitrum (ARB), Optimism (OP) and Polygon (MATIC) – to outpace. In addition, Poppe is also confident Polkadot (DOT), Cosmos Hub (ATOM), Avalanche (AVAX), and Chainlink (LINK) will follow a bullish trend in the near term.
Notably, the crypto analyst demonstrated that most of the altcoins are in the early stages of recovery after making higher highs during the past few months. As a result, Poppe advised his followers to continue accumulating during the current correction phase, as most altcoins will eventually break out to the top.
With the fourth Bitcoin halving expected in less than 90 days, crypto analysts urged investors to keep a close watch on the anticipated approval of spot Ethereum exchange-traded funds (ETFs) in the United States. Furthermore, the approval of spot Ethereum ETF could trigger institutional investors’ mass adoption of altcoins in the coming years.