Legendary Analyst Announces 4 Altcoins: Sleeping Giants Awaken!

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READING NOW Leg­endary Ana­lyst Announces 4 Alt­coins: Sleep­ing Giants Awaken!

Cryp­tocur­ren­cy mar­ket cap rose 1.4% to $859.2 bil­lion today. Accord­ing­ly, most of the major cryp­tocur­ren­cies expe­ri­enced a price increase on Sun­day evening. U.S. stock mar­kets were trad­ing quite calm­ly as the week­end end­ed. How­ev­er, Bit­coin, which has a cor­re­la­tion with stocks, man­aged to rise despite this. Most major cryp­tocur­ren­cies have seen gains, espe­cial­ly Bit­coin and the lead­ing alt­coin Ethereum. In light of these devel­op­ments, a well-known ana­lyst in the mar­ket shared 4 alt­coins that woke up from their slumber.

“These 4 alt­coin projects are wak­ing up”

Leg­endary cryp­tocur­ren­cy ana­lyst Michael van de Poppe said he expects bull­ish­ness for some alt­coin projects. The trad­er cit­ed Fan­tom (FTM), Avalanche (AVAX), Polka­dot (DOT), and Ethereum (ETH) as exam­ples of cryp­tocur­ren­cies that are start­ing to “look pret­ty good”. In a sev­en-day peri­od, FTM has risen 28.2%, AVAX 7.3%, DOT 6.2% and ETH soared. “Slow­ly but sure­ly, some alt­coins are show­ing strength,” Van De Poppe said in a sep­a­rate tweet. He then stat­ed that in this pre­dic­tion, he specif­i­cal­ly refers to DeFi coins.

Accord­ing to Poppe, these alt­coins and DeFi coins have the poten­tial to see a bet­ter price rise in the near future. The decen­tral­ized finance (DeFi) space has weak­ened in recent months due to increased mon­e­tary tight­en­ing poli­cies. As we have report­ed as Kriptokoin.com, the pigeon speech­es of FED Chair­man Jerome Pow­ell were enough to give hope to the mar­ket. There­fore, DeFi coins are like­ly to become pop­u­lar again. On the Ethereum side, Poppe points to $1200. Accord­ing to him, ETH will con­tin­ue to rise as long as it stays above this price lev­el. ETH price is cur­rent­ly trad­ing at $1,295.

Bit­coin price matters

Cryp­to­Quant ana­lyst Jan Wüsten­feld also shared pre­dic­tions. Wüsten­feld said that since the last cycle, mon­e­tary poli­cies have “influ­enced Bit­coin and alt­coin prices.” Accord­ing to him, BTC is very wide­ly adopt­ed. Futures mar­kets con­tin­ue to be pro­mot­ed and insti­tu­tion­al inter­est is turn­ing to cryp­tocur­ren­cies. As a result, nat­u­ral­ly, Bit­coin becomes more depen­dent on tra­di­tion­al finan­cial mar­kets. So it is no longer dri­ven sole­ly by retail investment.

Wüsten­feld says that with recent price move­ments, mul­ti­ple par­ties have again “declared Bit­coin dead.” But he adds that, giv­en mon­e­tary con­di­tions, it is appro­pri­ate to ask “whether the rate of inter­est will con­tin­ue to rise indef­i­nite­ly, or should it even­tu­al­ly fall.” The last Fed­er­al Open Mar­ket Com­mit­tee (FOMC) meet­ing of the year is sched­uled for next week. At the time of this writ­ing, CME’s FED Watch tool was show­ing a 78.2% prob­a­bil­i­ty for a 50 basis point rate increase.

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