In a recent video, analyst Michaël van de Poppe took a detailed look at the ongoing crypto crash and why his altcoin strategy is failing. Van de Poppe began his analysis by noting the significant downturn in the crypto market. He particularly emphasized that this situation caused great disappointment and anxiety among cryptocurrency investors. He pointed out that many of the altcoins failed to show the expected performance and suffered serious losses in value.

Continuing his analysis, he emphasized that while macroeconomic factors such as a weakening US dollar and falling government bond yields would normally be expected to positively impact crypto markets, Bitcoin and altcoins are still struggling. This shows that the cryptocurrency market faces its own internal dynamics and special problems.

Van de Poppe cited Germany's large-scale Bitcoin sales as one of the main reasons for this decline. Germany made a significant sale by reducing its Bitcoin assets from 3.2 billion dollars to 2.3 billion dollars. He stated that these sales caused excess supply in the market and therefore a decrease in prices. He stated that Bitcoin facing such a huge sale also puts pressure on other crypto assets.

Besides, Mt. Gox's repayment of 30-40% of its Bitcoins, which started on July 5 after its decade-long bankruptcy and caused anxiety in the market, also accelerated the decline in the market. Mt. He stated that these refunds, which took place as a result of long legal processes following the hack attack that Gox experienced years ago, created a large Bitcoin supply in the market. He explained that this situation caused prices to drop even further.

Van de Poppe's game plan for the coming months includes sticking to his altcoin strategy despite the current market downturn. He stated that he plans to continue holding altcoins to accumulate more Bitcoin and focus on altcoins' performance against Bitcoin rather than their USD value.

He believes the market is in the capitulation phase, similar to past downturns, and awaits a potential recovery driven by events like the Ethereum ETF. He recommends monitoring Bitcoin dominance and sees the current period as a buying opportunity. Despite recent corrections, the analyst believes that pullbacks often point to major entry points for altcoin investment.

Some notable suggestions regarding altcoins are as follows:

  • Arbitrum (ARB): It states that Arbitrum reached its lowest levels during the general downturn in the market.

  • Optimism (OP): Optimism stands out as one of the altcoins that reached unprecedented low prices.

  • Ethereum (ETH): He states that the value of Ethereum, which forms a significant part of his portfolio, in terms of Bitcoin is relatively stable despite the decline in USD value.

  • Chainlink (LINK): Van de Poppe sees Chainlink falling back to lows with a 15% decline against Bitcoin.

  • Wormhole (WORM): As one of the newest coins, Wormhole is 50% lower than its purchase price, indicating high volatility and high return potential.

Overall, he notes that this period may be the best time to invest, considering historical trends show altcoins performing best in the third and fourth quarters.

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