- Popular crypto analyst Michaël van de Poppe predicts a market-wide rally in the crypto sector, due to signs of slowing economic activity.
- Van de Poppe’s optimism is fueled by the US labor market’s underperformance in April, with unemployment rising to 3.9% and average hourly earnings growing less than expected.
- The analyst believes that the Federal Reserve will be forced to turn on the money printers to support the job market, which will in turn boost risk-on assets like Bitcoin.
Michaël van de Poppe, a well-known crypto analyst, predicts a market-wide rally in the crypto sector amid signs of slowing economic activity and underperformance of the US labor market.
Van de Poppe’s Market Predictions
Van de Poppe shared his bullish outlook on crypto with his 716,300 followers on social media. He believes that the Federal Reserve will be forced to turn on the money printers to support the job market, which has missed estimates in April. This, he believes, will lead to a rally in risk-on assets like Bitcoin. He predicts Bitcoin to rise back above $61,600.
Impact on Altcoin Market
Van de Poppe also shared his predictions for the altcoin market. He believes that the total altcoin market capitalization has seen the bottom of its correction and predicts a consolidation period before a rally to fresh all-time highs. He expects the altcoin market to stabilize around $880-$920 billion before the rally.
Return of Retail Traders
Van de Poppe also predicts the return of retail traders to the crypto markets. He believes that retail traders, who are currently not active in the markets, will re-enter once altcoins start to print sizeable gains. This, he believes, indicates that it’s still early days for crypto investors.
Conclusion
Van de Poppe’s predictions suggest a bullish outlook for the crypto market, driven by economic factors and the potential return of retail traders. However, as with any investment, potential investors should do their due diligence and consider the inherent risks involved.
