- The analyst compared Ethereum’s price action with Chainlink and Arbitrum.
- Van de Poppe recommended considering entry points during corrections of 30-50%.
- Michaël van de Poppe emphasized that altcoins are experiencing short-term corrections within their overall upward trends.
Michaël van de Poppe, founder of MN Trading, stated that altcoins “have multiple days or weeks of correction” while maintaining their uptrend. He said, “During this part of the cycle, the runs upwards last longer and are steeper.” Poppe added that consolidation is currently a point of re-entry before the run continues.
The analyst compared the current market state to the end of 2015 and the end of 2019. He stated that Ethereum went from a range of $1-14 at the end of 2015 to $1,400 in 2017. Van de Poppe claimed that while many don’t believe these returns could happen once more, he assured them that they will.
“It might even be possible that current projects providing a return of 5-10x at the start of this bull cycle are barely getting started,” stated Van de Poppe. However, the analyst added that during the first upward runs, corrections are normal.
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