A famous investor predicted the growth of the altcoin market

Well-known market analyst Michael van de Poppe published another video on his YouTube channel. A popular trader and investor told subscribers about which altcoins could significantly increase in price in 2024. He also told what will happen in the market of alternative cryptocurrencies.

The researcher noted that the “altcoin season” could begin thanks to the approval of spot Bitcoin (BTC) ETFs. According to him, what is happening now is very similar to the model that was observed in 2017. BTC's dominance is starting to decline, analyst says. This could lead to an increase in the value of alternative cryptocurrencies.

The specialist added that it is very important to monitor the current exchange rate of Bitcoin and altcoins in order to determine which of them you can invest in. The strategist gave an example that the current rate of Sui (SUI) in relation to BTC is showing an upward trend and strength.

In addition, the researcher drew attention to Chainlink (LINK). According to him, this digital asset is on the verge of a new growth cycle. Now the chart shows a correction before an upward breakout.

In addition, the Internet Computer (ICP) and Ethereum (ETH) cryptocurrencies also continue to demonstrate strength. According to van de Poppe, this could herald the start of a new growth cycle.. Solana (SOL) and other altcoins are in a correction phase awaiting the next impulse.

“In order to enter the market on time, it is important to follow the uptrend of Bitcoin and USDT. In addition, it is necessary to look for confirmation on a higher time frame and identify resistance and support points for altcoins.” Finally, van de Poppe advised being patient and developing an investment strategy.

According to data as of January 14, the BTC rate was $42,860. The dominance level dropped to 49.8%. This week this figure exceeded 53%.