As we approach the end of June, the altcoin market is exhibiting significant weakness. Last weekend, altcoins lost over $25 billion in value in total. Ethereum (ETH) and other major altcoins lost between 3% and 10%. However, according to analysts, this decline can be interpreted as the last correction before new capital returns to the market.
"Rising Expectation"
Cryptocurrency analyst Michael van de Poppe predicts that the current downtrend for altcoins will end soon. In a recent tweet, he stated that he believes the altcoin downtrend is over and expects a significant capital inflow into altcoins in the coming weeks.
Poppe stated that he is confident in his current altcoin positions and that investors should be prepared for a potential rise as the market's downtrend ends. Emphasizing that the current situation in the altcoin market is worrying, Poppe stated that many altcoins have fallen to new lows against Bitcoin (BTC) and that some altcoins have risen between 300% and 500% in similar situations in the past.
A Potential Rally of 100% and Above is Expected in Altcoins
With the correction coming to an end, Poppe states that he sees the potential for a rally of 100% or more in altcoins, in line with Bitcoin's performance. This bullish expectation indicates that there could be significant gains in the market as the downtrend ends and capital flows back into altcoins.
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