5 altcoins that could enter a growth phase over bitcoin, according to van de Poppe
Crypto-strategist and trader Michaël van de Poppe reveals the names of a select group of altcoins that he believes have the potential to significantly boost your bitcoin holdings.
Please note that the content of this article does not necessarily reflect the opinion of CryptoMonday and in no way constitutes financial advice. Investing in altcoins comes with a Crypto Trader high risk and the entire stake could be lost.
In a new video, Van de Poppe tells his 29,500 YouTube subscribers that while many altcoins are already showing an impressive rise measured in US dollars, only a handful are just starting to show signs of picking up even against Bitcoin (BTC).
These 5 altcoins could soon outperform bitcoin
Among them, the experienced trader has his eye on Cosmos (ATOM). With ATOM trading just short of its all-time high at $22.02 at the time of the video, it did not seem like a good opportunity to enter. Instead of chasing the pump against the US dollar, Van de Poppe says, one should look at the ATOM/BTC currency pair. Indeed, here the altcoin may be on the verge of starting an uptrend.
He believes the same is true for Celer Network (CELR). The trader noted that CELR/USDT has just completed a major parabolic move. Meanwhile, something is brewing in the CELR/BTC pair after a long downtrend.
We are forming a nice bullish divergence at the bottom.
The trader is also looking at Harmony (ONE/BTC), which Van de Poppe says has a similar market structure to CELR/BTC. Other hot candidates for appreciation against Bitcoin (BTC) are DIA and TomoChain (TOMO), in his opinion.
An altcoin market is on the horizon
The assessment on the part of van de Poppe and his suspicions that a variety of altcoins could be on the rise against Bitcoin (BTC) coincide with the view that Bitcoin dominance is about to cede significant market share.
For example, Bitcoin Booth wrote in its Telegram channel in a post on 14 February that 2021 will be the year of the altcoins. It states:
The 12 Montas chart of Bitcoin dominance also shows a Hanging Man, which typically denotes the end of an uptrend. At the same time, the market cap excluding Bitcoin (BTC) recently broke through its all-time high after forming a round bottom over the past 3 years. We expect to reach a market cap of US$1 trillion in the near future.
Accordingly, it might be worth keeping a special eye on promising altcoin projects in the coming weeks and months. In particular, the field of decentralised finance (DeFi) offers some high-quality projects.