The cryptocurrency market has been facing major changes recently. The US Securities and Exchange Commission (SEC) approval of all 8 Ethereum ETFs and the launch of Spot Bitcoin ETFs in Australia and Thailand are seen as a major milestone for the markets. These developments show that digital assets are becoming more widely accepted by the mainstream and have crypto enthusiasts excited. The altcoin market is also preparing to get its share from these innovations.
These major steps could present new opportunities, especially for the long-ignored altcoin market. Altcoins, which have recently lost between 10-20% in value, have begun to attract the attention of investors again. Crypto analyst Michael van de Poppe predicts a big rise for altcoins. Van de Poppe predicts that this rise will start from the end of June and continue until September and October. This period could be a period of sustainable growth and recovery for altcoins.
Increasing Mobility in the Altcoin Market
Van de Poppe predicts that altcoins will return to their "normal values". This means that altcoins trading below their historical averages will soon experience a correction in line with their intrinsic value. This expectation may present a significant opportunity for altcoin investors. Bitcoin, on the other hand, is struggling with resistance between the $69,000 and $71,000 levels after significant corrections in recent weeks. Bitcoin's struggle at these levels may direct investors' attention to alternative coins. Many in the crypto community speculate that Bitcoin falling below the $68,000 level will drive investors into altcoins due to the potential for higher returns on alternative crypto investments.
The approval of Ethereum ETFs and the launch of Spot Bitcoin ETFs created a huge buzz in the crypto market. These developments may herald a period in which the market will shine. Michael van de Poppe's predictions and Bitcoin's struggle at resistance levels may draw investors' attention to altcoins.
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I EXPLAIN IN DETAIL.
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