{"id":35383,"date":"2024-01-23T18:55:14","date_gmt":"2024-01-23T22:55:14","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35383"},"modified":"2024-01-23T18:55:14","modified_gmt":"2024-01-23T22:55:14","slug":"crypto-analyst-reveals-top-altcoins-to-buy-amid-market-slump","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/23\/crypto-analyst-reveals-top-altcoins-to-buy-amid-market-slump\/","title":{"rendered":"Crypto Analyst Reveals Top Altcoins To Buy Amid Market Slump"},"content":{"rendered":"

In a new video update<\/a>, renowned crypto analyst Michael van der Poppe dissected the current dynamics of the crypto market, emphasizing the potential of select altcoins. VVan der Poppe\u2019s analysis provides a strategic viewpoint for potential investors, focusing on the intricate relationship between Bitcoin\u2019s (BTC) price movements and the broader altcoin market.<\/p>\n

Van der Poppe started by acknowledging the mixed performances among altcoins, with some consolidating, others correcting, and a few showing remarkable strength. The crux of his analysis hinges on the intricate relationship between Bitcoin\u2019s market behavior and the resultant impact on altcoins<\/a>.<\/p>\n

He highlighted the current consolidation phase of Bitcoin, noting, \u201cBitcoin is currently looking at a case of consolidating which means that if Bitcoin is bottoming out\u2026 that can be the kickstart of altcoins to start firing up.\u201d<\/p>\n

Furthermore, the crypto analyst delved deep into market capitalization metrics, particularly emphasizing the Total 2 market cap (excluding Bitcoin) and Total 3 market cap (excluding Bitcoin and Ethereum), to underscore the latent potential in altcoins. He pointed out, \u201cWe are at the levels of March 2022\u2026 the total market cap lagging says that we are looking at a case of other cryptocurrencies to start trending outside of Bitcoin.\u201d<\/p>\n

Top 3 Altcoins To Buy Now<\/h2>\n

The first altcoins which van der Poppe picked is Ethereum. He linked ETH\u2019s price movements with broader market events, including the Bitcoin halving and potential regulatory approvals and suggested, \u201cEther is always going to pick up in a pace that is due to a period of consolidation of Bitcoin.\u201d<\/p>\n

He added with regards to the final SEC deadline for an spot Ethereum ETF<\/a> approval in the US, \u201cthe actual date that we need to focus on is May, which probably is going to lead into such a momentum towards these highs.\u201d<\/p>\n

With regard to a possible price target in this bull run, the analyst revealed: \u201cI think that at this point ETH is still going to continue running towards the area of 8K and we\u2019re going to find ourselves into a top at that specific level.\u201d<\/p>\n

With respect to the 1-week ETH\/BTC chart, van der Poppe remarked, \u201cWe\u2019re seeing one crucial level that we need to break through 0.06. If we do, I think the range high at 0.0838 is going to be the target. As a matter of fact you can actually say $130 billion needs to be added towards Ethereum. It\u2019s a rally of approximately 43%.<\/p>\n

Van der Poppe\u2019s second pick is Chainlink. Highlighting LINK\u2019s technical patterns<\/a> and its correlation position against BTC in the weekly chart, Van der Poppe highlighted that LINK hit resistance at 0.000448, dropped back down towards 0.0002843 and is now consolidating.<\/p>\n

Once this is finished, he expects Chainlink \u201cto rally towards the resistance and start breaking out of this level towards the highs at 0.0009 to 0.0010.\u201d He added, \u201cIn terms of BTC value, it\u2019s very likely that it\u2019s going to do a 2x,\u201d emphasizing the potential for significant growth.<\/p>\n

In USDT terms, this would mean that LINK goes to $17 to $18. \u201cFrom $17 to $18, you need to do 2X, which is this range high, which is this level, which we can expect Chainlink to go to before we have a pretty substantial correction in the entire market,\u201d he added.<\/p>\n

The analyst\u2019s third altcoin is Arbitrum. Focusing on ARB\u2019s recent price actions<\/a> and potential for a significant rally, Van der Poppe identified key entry points, stating, \u201cAnywhere in this ballpark between $1.67 and $1.50 is where you want to get yourself into an entry point.\u201d He underlined the potential growth, saying, \u201cIf there\u2019s going to be another impulse taking place, it is going to $3.50 or $5.\u201d<\/p>\n

At press time, the total crypto market cap stood at $1.473 trillion after being rejected at the 0.382 Fibonacci retracement level.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

In a new video update<\/a>, renowned crypto analyst Michael van der Poppe dissected the current dynamics of the crypto market, emphasizing the potential of select altcoins. VVan der Poppe\u2019s analysis provides a strategic viewpoint for potential investors, focusing on the intricate relationship between Bitcoin\u2019s (BTC) price movements and the broader altcoin market.<\/p>\n

Van der Poppe started by acknowledging the mixed performances among altcoins, with some consolidating, others correcting, and a few showing remarkable strength. The crux of his analysis hinges on the intricate relationship between Bitcoin\u2019s market behavior and the resultant impact on altcoins<\/a>.<\/p>\n

He highlighted the current consolidation phase of Bitcoin, noting, \u201cBitcoin is currently looking at a case of consolidating which means that if Bitcoin is bottoming out\u2026 that can be the kickstart of altcoins to start firing up.\u201d<\/p>\n

Furthermore, the crypto analyst delved deep into market capitalization metrics, particularly emphasizing the Total 2 market cap (excluding Bitcoin) and Total 3 market cap (excluding Bitcoin and Ethereum), to underscore the latent potential in altcoins. He pointed out, \u201cWe are at the levels of March 2022\u2026 the total market cap lagging says that we are looking at a case of other cryptocurrencies to start trending outside of Bitcoin.\u201d<\/p>\n

Top 3 Altcoins To Buy Now<\/h2>\n

The first altcoins which van der Poppe picked is Ethereum. He linked ETH\u2019s price movements with broader market events, including the Bitcoin halving and potential regulatory approvals and suggested, \u201cEther is always going to pick up in a pace that is due to a period of consolidation of Bitcoin.\u201d<\/p>\n

He added with regards to the final SEC deadline for an spot Ethereum ETF<\/a> approval in the US, \u201cthe actual date that we need to focus on is May, which probably is going to lead into such a momentum towards these highs.\u201d<\/p>\n

With regard to a possible price target in this bull run, the analyst revealed: \u201cI think that at this point ETH is still going to continue running towards the area of 8K and we\u2019re going to find ourselves into a top at that specific level.\u201d<\/p>\n

With respect to the 1-week ETH\/BTC chart, van der Poppe remarked, \u201cWe\u2019re seeing one crucial level that we need to break through 0.06. If we do, I think the range high at 0.0838 is going to be the target. As a matter of fact you can actually say $130 billion needs to be added towards Ethereum. It\u2019s a rally of approximately 43%.<\/p>\n

Van der Poppe\u2019s second pick is Chainlink. Highlighting LINK\u2019s technical patterns<\/a> and its correlation position against BTC in the weekly chart, Van der Poppe highlighted that LINK hit resistance at 0.000448, dropped back down towards 0.0002843 and is now consolidating.<\/p>\n

Once this is finished, he expects Chainlink \u201cto rally towards the resistance and start breaking out of this level towards the highs at 0.0009 to 0.0010.\u201d He added, \u201cIn terms of BTC value, it\u2019s very likely that it\u2019s going to do a 2x,\u201d emphasizing the potential for significant growth.<\/p>\n

In USDT terms, this would mean that LINK goes to $17 to $18. \u201cFrom $17 to $18, you need to do 2X, which is this range high, which is this level, which we can expect Chainlink to go to before we have a pretty substantial correction in the entire market,\u201d he added.<\/p>\n

The analyst\u2019s third altcoin is Arbitrum. Focusing on ARB\u2019s recent price actions<\/a> and potential for a significant rally, Van der Poppe identified key entry points, stating, \u201cAnywhere in this ballpark between $1.67 and $1.50 is where you want to get yourself into an entry point.\u201d He underlined the potential growth, saying, \u201cIf there\u2019s going to be another impulse taking place, it is going to $3.50 or $5.\u201d<\/p>\n

At press time, the total crypto market cap stood at $1.473 trillion after being rejected at the 0.382 Fibonacci retracement level.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-35383","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=35383"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35383\/revisions"}],"predecessor-version":[{"id":35391,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35383\/revisions\/35391"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35383"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}