Investing.com - In a recent video, renowned cryptocurrency analyst Michael van de Poppe stated that the altcoin market is poised for a significant rise, coinciding with the approval of Ethereum ETFs in the United States.
This comes as the price of Ethereum, the second-largest cryptocurrency by market capitalization, has risen more than 25% against Bitcoin over a week. This sudden increase has boosted the cryptocurrency market, with strong potential for altcoins to follow suit.
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Typically, altcoin seasons come in cycles, with Bitcoin leading, followed by Ethereum and other altcoins. This pattern is expected to emerge with the notable rise in Ethereum's price. The current market sentiment, along with the approval of Ethereum ETFs, paves the way for a major altcoin season.
Therefore, given these factors, analyst van de Poppe believes this is the right time and the last opportunity to accumulate altcoins at a low price before the rally begins.
Meanwhile, the analyst listed the top 5 altcoins expected to outperform major cryptocurrencies:
Optimism
Optimism (OPm/USD) is a layer-2 blockchain operating on the Ethereum network. It ensures security and decentralization while providing scalability and reducing transaction costs. With nearly 30% of its market value locked in the ecosystem, the OP token has high potential for significant gains.
At the time of publication, the Optimism token is currently trading at $2.45. Van de Poppe expects its price to increase by approximately 300% to 800% against Bitcoin in the next six months.
Arbitrum
The recent announcement that Arbitrum will release 225 million ARB tokens, worth approximately $250 million, for the Gaming Catalyst Program (GCP) has attracted many investors. Despite strong performance in recent weeks, the Arbitrum ecosystem is rapidly growing with strong fundamentals and ecosystem development, making it a promising investment.
At the time of publication, the ARB token is currently trading at $1.13. Van de Poppe expects ARB to rise by approximately 250% to 300% against Bitcoin as it rebounds from recent lows.
WO Network (LON:NETW)
WO Network (WOO/USD) is a decentralized currency featuring ultra-fast execution response times and significant liquidity. As the Ethereum ecosystem expands, decentralized exchanges like WO Network will greatly benefit from increased trading volumes. Van de Poppe expects WO prices to range from 300% to 800%, driven by the growing use of decentralized exchanges worldwide.
Wormhole
Van de Poppe expects the price of Wormhole (W/USD) to rise by 200% to 400%.
Dogecoin
Dogecoin, a notable meme coin, has shown strong community support. Although Dogecoin's price has dropped 81% from its peak, it is poised for a significant comeback, especially as other meme coins gain popularity. Van de Poppe expects Dogecoin’s price to rise by 400% to 500%, benefiting from the current meme coin craze.
The launch of Bitcoin ETFs in the United States, which has caused capital to shift from altcoins to Bitcoin, has put considerable pressure on the altcoin market recently. However, this trend is reversing, and the approval of Ethereum ETFs is likely to lead to a new round of investments in altcoins. Therefore, this is the best time to invest, as historical trends indicate that altcoins perform best in the second half of the year.