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Breaking News: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report
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Breaking News: Cantor Fitzgerald Projects Major Growth For Hyperliquid (HYPE) In Explosive New Report

Crypto Expert Says ‘Prepare Yourself’ For Massive Altcoin Run, Here’s Why

Scott Matherson
Scott Matherson
Last Updated: June 11, 2024 7:57 am
3 mins read
Altcoin

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Cryptocurrency analyst, Michael van de Poppe has alerted the broader cryptocurrency community about an upcoming altcoin rally. The analyst has cited the recent upward trend experienced by Bitcoin as a positive signal for this prediction. 

Get Ready For Major Altcoin Run

In a recent X (formerly Twitter) post, Poppe suggested that altcoins are poised to become the next in line for the 2024 bullish momentum. Citing Bitcoin’s recent upward surge to over $60,000, the crypto analyst has disclosed that this substantial price increase is a clear signal for a potential altcoin rally in the market. 

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He predicts that during this potential altcoin run, major cryptocurrencies may experience substantial surges that could potentially push their prices far above their previous all-time highs. In light of this, the crypto analyst has advised the broader cryptocurrency community to remain vigilant and make necessary preparations for this anticipated bullish event. 

Lately, market sentiment has been indicating a shift from Bitcoin investments to meme coins and other major altcoins. Just last week, a Solana-based memecoin, Dogwifhat (WIF) experienced a massive surge, propelling its price to $1 and boasting a year-to-year gain of over 90%. 

Furthermore, popular altcoins like Solana and Cardano have witnessed significant price increases and growth in their respective markets. On March 1, Solana’s price surged to two-year highs, skyrocketing above $136. Conversely, Cardano recorded a boost in its adoption rate, with the total number of Cardano wallets in the ecosystem approaching 4.6 million. 

These subtle developments are indicating a potential shift in the market dynamics of altcoins, as an increasing number of cryptocurrencies are beginning to mirror Bitcoin’s bullish momentum. 

Altcoins Gearing To Pump

A crypto analyst, identified as “Dami Defi” on X has disclosed that recent market trends are signaling that “altcoins are getting ready to pump.”

Dami Defi’s predictions are anchored in the diminishing dominance of Bitcoin in the cryptocurrency market. He explained that when the market capitalization of the entire crypto market is on the rise and simultaneously, Bitcoin’s dominance decreases, it often signals a healthy and widespread bull market in the crypto space. 

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According to the analyst, this scenario implies that the market’s growth is not solely focused on Bitcoin but would also potentially be distributed across various altcoins. He has revealed that despite Bitcoin’s recent price rally, the cryptocurrency has been experiencing notable outflows, with a substantial portion of these funds moving into altcoins. 

“If we continue to see BTC dominance go down and total 3 resistance gets broken, all hell will break lose and altcoins will pump crazy,” Dami Defi stated. 

Altcoin total market cap from Tradingview.com (Crypto analyst)

Altcoins market cap at $1.08 trillion | Source: Crypto Total Marekt Cap Exclusing BTC
Featured image from Coinpedia, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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