Famous crypto analyst Michaël van de Poppe made an important statement for altcoins. Van de Poppe stated that he expects the correction in the altcoin market to end soon. Examining the weekly TOTAL3 chart, the analyst said that this chart indicates an upward reversal and that it follows the market value of altcoins that do not include major crypto assets such as Bitcoin and Ethereum. Van de Poppe predicts that the correction may last for the next week or two and then it will rise again. He also stated that Ethereum has entered an upward trend against Bitcoin and that altcoins such as Optimism are attracting attention from investors with their increasing trading volume. According to Van de Poppe, this situation shows that the Ethereum ecosystem is still significantly undervalued.
Famous Analyst Gave Good News for Altcoins
In his latest YouTube post, Michaël van de Poppe announced that the correction in the altcoin market will end in a few weeks. The analyst believes that the correction will be complete a few weeks before 2025. Van de Poppe told his 169,000 YouTube subscribers that the TOTAL3 chart will soon show a bullish reversal on a weekly basis. TOTAL3 is an indicator that tracks the market value of all crypto assets except Bitcoin (BTC), Ethereum (ETH), and stablecoins. The analyst explained:
"When we examine the altcoin markets, for example, when we look at the USDT valuation on the TOTAL3 chart, we have experienced a significant increase at the moment and now we are seeing a general correction in the markets. We may be nearing the end of this correction. Maybe the correction from January may last for another week or two, then we may see an increase again."
In addition, the analyst noted that Ethereum has entered an uptrend against Bitcoin (ETH/BTC), and noted that other altcoins such as Optimism (OP) have also been accumulated by investors with increasing trading volume. Van de Poppe added:
"When we look at the valuations of altcoins, for example, the interest and volume shown by Optimism against Bitcoin indicates that investors are accumulating. While Ethereum continues to rise against Bitcoin, the rest of the Ethereum ecosystem is consolidating or correcting slightly. This shows that the ETH ecosystem is still significantly undervalued."
