Ethereum

bullish

Bank

Bitcoin

<p>Many crypto experts have predicted that Q4 of the year will be a bullish phase for the entire cryptocurrency market. Renowned cryptocurrency analyst Michael van de Poppe is one of the latest figures to publicly share a bullish outlook. In one of his latest posts on X, he has expressed his optimistic view about the potential of Altcoins to achieve massive growth soon.&nbsp;</p>   
<p>But what factors are driving this bullish outlook? And which altcoins are poised to benefit the most? Read on to discover the details.</p>   
<h2 class="wp-block-heading" id="h-altcoins-are-set-to-explode">Altcoins Are Set to Explode </h2>   
<p>Analyzing the Crypto Total Market Cap Excluding Top 10 chart, it's clear that the altcoin market has experienced a sharp upward trajectory. Over just four days, the market cap surged from $189.62 billion to $212.041 billion—an impressive leap signaling a bullish trend.</p>   
<figure class="wp-block-image">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/09/20161506/image-446.png" alt="" class="wp-image-353089">
</figure>   
<p>Michael van de Poppe predicts that the Altcoins market will continue to rise for at least four to eight weeks. He cites the latest macroeconomic developments, like the <a href="https://coinpedia.org/crypto-live-news/bank-of-japan-keeps-rates-unchanged-bitcoin-and-altcoins-surge/" target="_blank" rel="noreferrer noopener">Bank of Japan’s decision</a> to keep interest rates unchanged and the <a href="https://coinpedia.org/news/bitcoin-hits-61k-as-fed-slashes-interest-rates-by-50-bps-after-four-years/" target="_blank" rel="noreferrer noopener">US Federal Reserve’s</a> execution of its interest rate cut plan, as the major factors contributing to the latest bullish trend in the crypto market, especially in the Altcoins market.&nbsp;</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/CryptoMichNL/status/1837031439982055853 
 </div>
</figure>   
<h2 class="wp-block-heading" id="h-ethereum-price-momentum-an-analysis-nbsp">Ethereum Price Momentum: An Analysis&nbsp;</h2>   
<p>Ethereum, the leading altcoin, has posted a notable 8.4% growth over the past week. Its daily chart against Bitcoin shows a recent trend reversal. At the beginning of the year, ETH stood at just 0.05396 BTC. A rapid surge occurred on January 9, pushing its value to 0.06017 BTC from 0.04965 BTC in a mere five days.</p>   
<figure class="wp-block-image">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/09/20161506/image-447.png" alt="" class="wp-image-353090">
</figure>   
<p>However, volatility soon followed, with prices fluctuating between 0.05190 BTC and 0.06019 BTC.</p>   
<p>By March 8, a steep downtrend took hold, and on May 16, Ethereum bottomed out at 0.04514 BTC. Yet, a strong recovery followed, with ETH reaching 0.05569 BTC within a week. Unfortunately, the market faced another sharp decline on June 29, dragging the price down to 0.03843 BTC.</p>   
<h2 class="wp-block-heading" id="signs-of-recovery-on-the-horizon">Signs of Recovery on the Horizon</h2>   
<p>Yesterday, Ethereum showed its first signs of rebounding from this downtrend, currently sitting at 0.04009 BTC. With this newfound upward momentum, many experts, including van de Poppe, are revising their <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ethereum price predictions</a>. They view Ethereum’s performance as an indicator of a broader bullish trend in the altcoin market.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/CryptoMichNL/status/1837023628078239759 
 </div>
</figure>   
<p>For analysts like Michaël van de Poppe, Ethereum’s recent recovery is a signal of greater things to come. If these trends continue, the altcoin market could be on the verge of a significant bull run as we move deeper into Q4.</p>   
<p>Also Check Out: <a href="https://coinpedia.org/news/bitcoin-price-analysis-why-september-could-be-a-game-changer/" target="_blank" rel="noreferrer noopener">Bitcoin Price Analysis: Why September Could Be a Game-Changer!</a></p>   
<p><strong>Will Altcoins outperform Bitcoin in the coming months? Tell us what you think.</strong></p>

Coinpedia Fintech News

Table of Contents

CoinPedia News

Other articles published on Sep 20, 2024

3 Altcoins to Buy Post-FOMC: POPCAT, PEPU, WIF

Santa Monica Embraces Bitcoin for Growth

Renzo and Jito Empower Users with ezUSDC in DeFi

Bitcoin News: Will These Satoshi-Era Dormant Wallets Impact Rally to $70K?

Bitcoin outperformed nearly every asset class in past year — VanEck

BingX Exchange Hacked: Loss of $43 Million in Security Breach

Join our free newsletter for daily crypto updates!