Crypto analyst Michaël van de Poppe says altcoins are likely ready to trend higher after a long “depression phase” at very low prices.
Van De Poppe tells his 666,000 followers on social media platform X that the numerous applications for crypto exchange-traded funds (ETFs) are indicating coming strength for digital assets.
“Altcoins are in their depression phase and are ready to start trending upwards.
It might sound repetitive, but for most of the altcoins, the lows might be in or close to in.
The interest in crypto is at the same levels as in 2020, while BTC pairs are slowly breaking out.
The interest in the markets isn’t there, while we’ve got some important indicators in the meantime:
– Bitcoin spot ETF around the corner.
– Ethereum spot ETF applications.
– Ethereum futures ETF around the corner.
The institutions are jumping in.”
The analyst references the Wall Street Cheat Sheet, a classic chart that attempts to depict the psychological phases that investors go
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