Mikael van de Poppe expects altcoins to grow
Popular investor and trader Mikael van de Poppe expressed confidence that the altcoin market will start to grow in the near future. The specialist stated that many experts criticized him for adding alternative cryptocurrencies to his portfolio too early. However, the last week has convinced the analyst that the wave of mass adoption of cryptocurrencies is getting closer. According to him, this is encouraging.
"There is a theory that altcoins will continue to "die" because of the topic related to unlocking venture capitalists (VCs) and tokenomics in general. As far as I'm concerned, none of this is a bad thing. It's just that most projects go up in value at valuations that don't make sense. However, if you don't have any clear metrics to define, it makes sense that a bubble is created on nothing," Mikael emphasized.
He noted that many token revenue generation mechanisms are now emerging that determine the valuation of a project. With the help of them, users can understand the real value of a particular crypto asset, rather than being guided by rumors and speculation.
The trader also noted that Ethereum is a huge ecosystem with an extremely undervaluation. He predicted that the price of ETH will rise faster than many expect.
"I have not previously seen such a large gap between the fundamental growth of the ecosystem and sentiment around its price levels. Even the upcoming ETF is not getting the hype it deserves. In fact - this is one of the biggest things to happen in this space since the launch of Ethereum."
According to Mikael, the difference between retail users on social media and fundamental institutions, is gigantic. The former have no idea about what's coming next and what's happening now, and they often give a wrong assessment of the situation. "I think the ETH ETF can be a gas pedal of success for the whole Web 2.5/3.0 ecosystem," summarized van de Poppe.