These Altcoins Are Primed To Rip 10x in the Coming Months, According to Trader Michaël van de Poppe

Crypto analyst and YouTuber Michaël van de Poppe says he’s keeping a close watch on five altcoins that he says can potentially surge 10x against Bitcoin. 

In a new video, the crypto strategist says he’s looking closely at SXP, the native token of crypto-fiat gateway Swipe. According to Van de Poppe, the SXP/BTC pair must hold a key level to ignite the next leg up.



“You want to see Swipe hold above 0.0000053. Then, the critical resistance zone is very comparable to Bitcoin at $40,700. This level (0.000063) has to break. If that breaks for Swipe, the next real hurdle is only found around this area (0.000083). If it breaks above the 100-day MA (moving average), we are most likely moving toward this area (0.000083)… After that, we grant ourselves a new higher low by flipping the moving averages for support, and then we can start expanding and continuing the momentum.”

According to Van de Poppe, the next resistance after 0.000083 is 0.00016.

Another coin on the trader’s list is scalable smart contract platform TomoChain against Bitcoin (TOMO/BTC). According to Van de Poppe, TOMO/BTC must breach a key resistance level to ignite a strong rally.

“We are still consolidating nicely in which the critical level that it has to hold in order to sustain the upward momentum is the recent low (0.000038)… We are back above the 100-day and 200-day MA. We are slightly making a higher high and therefore, if we crack this resistance zone (0.000049)… we start a new impulse wave.”

Next is Algorand, a blockchain for decentralized finance (DeFi) applications. Van de Poppe notes that ALGO/BTC has managed to hold a key support area while keeping a bullish market structure.

“Algorand is ready to make the breaker as the critical level that ALGO had to hold onto is holding support. So most likely, this entire structure of higher highs and higher lows is going to continue moving toward the new highs.”

Van de Poppe says the immediate resistance of ALGO/BTC stands at 0.000038. A move above that level will target the next resistance area of 0.000054.

The crypto trader is also watching the price action of decentralized finance (DeFi) protocol Orion in its Bitcoin pair (ORN/BTC). According to Van de Poppe, ORN/BTC must take out a strong resistance area to launch a massive rally.

“If Orion breaks through it (0.0000025), you are going to see a big run towards the upper resistance zone (0.000043).

What is the area to hold? There are a few areas that I’m very interested in. Preferably, you want to see Orion to hold the area around 2,150 satoshis (0.0000215). If that doesn’t hold, the recent low is the second area of support that you could be looking at (0.000018).”



The last coin is decentralized exchange Curve Finance in its Bitcoin pair (CRV/BTC). The trader highlights the key resistance area that CRV/BTC must break to start its bull market.

But I’m suspecting that we’re going to have a nice bounce back up, creating another higher low, after which we can continue making the momentum or making the movements… Once we break above this resistance zone (0.00008), we can start running heavily as then there’s not much between these two levels (0.00018).”

[embedded content]


Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Pavel Chagochkin


Tagged : / / /

3 reasons why Ethereum may underperform Bitcoin in the short-term

Ether (ETH) price outperformed Bitcoin (BTC) by 173% from March 28 to May 15. The incredible bull caused the token to reach a $4,380 all-time high. However, as cryptocurrency markets initiated a sharp drop on May 12, the trend started to reverse, and since then, Ether has underperformed by 25%.

Some might say it is a technical adjustment after a strong rally. While this partially explains the move, it excludes some critical factors, including the fast advance of smart-contract network competitors and Bitcoin being adopted as an official currency for the first time.

Ether / Bitcoin price at Binance. Source: TradingView

Notice how the ETH/BTC ratio rallied again on June 8, reaching 0.77 despite Ether’s price remaining 36% below its all-time high and ranging near $2,800. To understand what could have been driving the ratio, analysts need to analyze Ether and Bitcoin price drivers separately.

Mike Novogratz may have been misinterpreted in his interview

Ether’s bull run potentially got an extra leg due to intense praise from institutional investors. Traders could have picked up a sense of urgency, known as FOMO, and promptly shifted their Bitcoin exposure towards the leading altcoin.

On May 13, New Yorker magazine published an interview with Mike Novogratz, the founder, and CEO of Galaxy Digital. In the conversation, Novogratz said:

“All of a sudden, you have decentralized finance and NFTs both on Ethereum at the same time roughly, with wild accelerating growth.”

Novogratz was then questioned on how much higher Ether could reach, to which he answered:

“You know, it’s dangerous to give predictions on the highs. But could it get to $5,000? Of course it could.”

While an Ethereum holder might have interpreted it as a prediction, others could have understood it as a wild guess, likely depending on general crypto market conditions.

However, roughly a week later, a report from Goldman Sachs revealed the global investment bank believed that Ether had a “high chance of overtaking Bitcoin as a dominant store of value.” Interestingly, one of the main quotes in the report was directly from Novogratz’s interview with the New Yorker.

At its peak, Binance Chain controlled 40% of DEX volume

While Ethereum has kept its 80% dominance on net value locked in decentralized finance (DeFi) applications, Binance Smart Chain (BSC) has reached a 40% market share on DEX exchanges.

PancakeSwap DEX daily volume vs. top 10. Source: DeBank

The successful growth of the DeFi industry and non fungible token (NFT) markets caused intense congestion on the Ethereum network, raising median fees to $37 in mid-May. That bottleneck triggered an activity exodus to competing networks, and PancakeSwap was best positioned to capture that flow.

Related: Here’s why one analyst says Bitcoin will outperform Ethereum in the short term

To make things worse, important DeFi projects expanded to Binance Smart Chain, including yield aggregator Harvest Finance and decentralized exchange aggregator 1inch. Investors quickly realized that the trend could continue as the competing smart-contract network provided an easy solution for dApps looking for cheaper alternatives.

No country is adopting the ‘Ethereum standard’

Bitcoin might have had a subpar performance over the past 30 days because it has failed to break the $42,000 resistance multiple times. However, a major milestone was achieved when El Salvador became the first country to make Bitcoin legal tender on June 12.

After the Central American country made the decision law, a handful of other Central and South American countries began discussing the advantages of taking a similar path.

Ethereum is undertaking a redesign that will change the issuing rate and how entities get paid to secure the network by moving away from the Proof of Work model. Meanwhile, Bitcoin is making sure that every upgrade is backward-compatible and maintaining its strict monetary policy.

That is the main reason why Ether will not outperform Bitcoin over the next 12 months, or at least until there’s a better understanding of how Ethereum network dominance of smart contracts will be.

Professional investors avoid uncertainties at all costs, and cryptocurrency markets already present plenty of that. There’s just no reason for institutional investors to ignore the risks while competing networks eat Ethereum’s lunch.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.