Altcoins May Recover if They Have Strong Fundamentals Despite Recent Market Declines

Solana, Fetch.ai, and Render Token are poised to surge 500%, 650%, & 300%.

Cryptocurrency altcoins might be poised for a strong recovery, especially those with strong fundamentals, despite the recent market declines, according to prominent crypto analyst Michael van de Pop.

In the past week, the crypto market, excluding Bitcoin, has shrunk by 3%, and in the last month, it’s down by almost 10%. This suggests that money is moving away from altcoins, possibly causing them to lose value over time. However, some altcoins with stronger fundamentals or reduced supply could see a comeback.

Meanwhile, van de Pop foresees this as potentially the last correction before new capital re-enters the altcoin market.

“The sentiment surrounding altcoins is currently pessimistic, as reflected by the declining Bitcoin valuations of various altcoins, reaching new lows,” said van de Pop.

“Thisнализнализ suggests that the present situation in the altcoin market may mirror past trends, hinting at the potential for a similar resurgence.”

This chart explains it all. The #Altcoin sentiment is terrible currently, as the BTC valuations of all the altcoins are reaching new lows.

The last time this happened:

$SOL went +500%

$FET went +650%

$RNDR went +300%

This time, altcoins are likely to do the same. pic.twitter.com/KYpzPqwDKV

Highlighting past occurrences, van de Pop points out the impressive surges witnessed by Solana ($SOL), Fetch.ai ($FET), and Render Token ($RNDR), which recorded gains of over 500%, 650%, and 300%, respectively.

These historical patterns serve as compelling evidence for van de Pop’s forecast of a potential altcoin resurgence. Despite the current challenges facing altcoins, relative to Bitcoin, van de Pop’s analysis suggests that the market may be poised for a turnaround similar to past rallies.

Analyst van de Pop remains optimistic about the future of altcoins. He noted that the alt market cap is still 50% below its 2021 all-time high, and the recent correction caused an additional 30% decrease from that level.

As the correction approaches its conclusion, Poppe anticipates a potential 100% rally in altcoins, mirroring Bitcoin’s trajectory.

News source：https://www.kdj.com/cryptocurrencies-news/articles/altcoins-recover-strong-fundamentals-market-declines.html

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