A largely followed analyst believes that altcoins are about to explode while massively surpassing Bitcoin (BTC).
Crypto Stratege Michaël Van de Poppe told its 786,000 subscribers on the X social media platform that he sees altcoins lighting a strong upward trend that could last several weeks.
According to the analyst, the graph of the Altcoin market capitalization versus Bitcoin (Total3 / BTC) flashes a bullish divergence, indicating that the alts are ready to steal the thunder of King Crypto.
Total3 follows the total market capitalization of the crypto, excluding Bitcoin, Ethereum (ETH) and Stablecoins. Meanwhile, an upward divergence suggests that the purchase of the momentum increases even if prices are increasing or on the side.
Said Van de Poppe,
“The market capitalization of Altcoin against Bitcoin is still massively bullish.
The longest divergence increased in history. »»
By looking at Ethereum, the analyst believes that ETH finally overthrew Bitcoin (ETH / BTC), supporting its position more according to which altcoins will dominate the cryptography market.
“The bullish divergence on the ETH three weeks ago indicated a potential reversal.
The lowest was confirmed, then a massive escape took place.
The trend switch is clear.
Now it is a divergence daily. On several altcoins, we see weekly differences.
Good times. “”
At the time of writing, the ETH / BTC pair is negotiated at 0.0242 BTC worth $ 2,515.
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