A popular crypto analyst says he will buy Polygon altcoins (MATIC), Cosmos (ATOM), Avalanche (AVAX), Concord (CCDs) and SKALE (SKL) as he anticipates a relief rally for the market.
Michael van de Poppe recount his 619,400 Twitter followers, he sources altcoins that could give him a 20-60X return on investment.
“Some projects I will slowly accumulate in the next bullish cycle:
– ATOM
– MATIC
– AVAX
-CCD
– SKL
I think this would be the package to get 20-60x returns in the next bull cycle.
At a press conference on Wednesday, Fed Chairman Jerome Powell said the pace of interest rate hikes is likely to slow over the next few months. Van de Poppe sees this is a good sign for crypto.
“Jerome Powell became accommodating after that. Good sign for the markets.
Van de Poppe says next merger from the Ethereum mainnet and Beacon Chain proof-of-stake system in September is also bullish for the crypto market.
The event will give birth to Ethereum 2.0, which will transform the largest smart contract platform into a proof-of-work system. The upgrade should resolve network scalability issues.
“The ideal ingredients for a Summer Relief Rally are:
Powell becomes dovish on politics and more dependent on data.
ETH merger coming in September.
Significant impact on 3AC, Celsius and more already taken into account.
I see ETH at $2,400 and BTC at $28,000-30,000.
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Feature image: Shutterstock/Quanrong Huang