Renowned crypto analyst Michaël van de Poppe has predicted a significant rally for a top altcoin, alongside Bitcoin’s (CRYPTO: BTC) potential historic surge. This forecast comes as the cryptocurrency market shows signs of a shift from Bitcoin dominance to an altcoin season.
What Happened: Van de Poppe anticipates a substantial breakout for Stacks (CRYPTO: STX), a top-50 altcoin. He suggests that STX, the native token of the Bitcoin layer-2 project, could rally by 70% as it nears a critical resistance level.
Currently, STX is trading at $2.29, marking a 20% increase over the past week, with the potential to exceed its all-time high of $3.86 set in April.
Moreover, van de Poppe predicts that Bitcoin could reach a six-figure milestone if it breaks the $98,000 resistance on the four-hour chart. Bitcoin is currently trading at $96,995, up 1.3% in the last 24 hours.
Additionally, van de Poppe is optimistic about VeChain (CRYPTO: VET), highlighting its recent announcement of VeBetterDAO, an ecosystem rewarding sustainable actions.
Why It Matters: The cryptocurrency market is undergoing a notable transition. Bitcoin has been oscillating around the $95,000 zone, indicating a potential shift towards altcoins. This aligns with van de Poppe’s forecast of an altcoin season.
Furthermore, Ethereum’s recent outperformance against Bitcoin, driven by key market indicators and the upcoming departure of SEC Chair Gary Gensler, has bolstered sentiment around altcoins. Gensler’s tenure was marked by stringent regulations on cryptocurrencies, and his resignation could signal a more favorable environment for altcoins.
Van de Poppe’s analysis also warns of potential “flash crashes” in Bitcoin, which could present strategic entry points for investors, further fueling the altcoin rally.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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