The cryptocurrency market is brimming with anticipation, with analysts predicting significant upside for altcoins in the coming months. This positive outlook comes after a period of weak performance, with the global market capitalization reaching $2.35 trillion and market sentiment improving slightly from neutral territory.

Michaël van de Poppe made a statement for altcoins

Michaël van de Poppe, a leading analyst, believes a market-wide rally is imminent amid signs of slowing economic activity. He points to recent US labor market data, which underscores rising unemployment and lower than expected wage growth. According to van de Poppe, these factors will force the FED to loosen monetary policy, which will lead to a resurgence of quantitative easing and interest rate cuts. This would support risky assets, including cryptocurrencies.

Van de Poppe predicts a return to bullish territory for Bitcoin, potentially breaking the $61,600 mark. He also suggests that the recent market downturn represents a buying opportunity and emphasizes that altcoins are poised for a significant rally after a period of consolidation. He even predicts a potential run to all-time highs for the altcoin market cap, which currently hovers around $880-920 billion.

Expectations of vitality

This bullish sentiment extends beyond van de Poppe. The overall recovery in the market, although modest, has evoked a sense of optimism. Interestingly, van de Poppe expects a resurgence of individual investor participation, which will likely return to the market once altcoins make significant gains.

Amid this positive outlook, some specific crypto price predictions are gaining traction. Bitcoin is expected to experience a significant increase and potentially reach $80,000 this month. Analysts point to potential technical breakouts above the resistance levels of $68,200 and $73,000, as well as historical trends that have traditionally favored Bitcoin in May. However, some analysts warn that a bearish trend could push Bitcoin down to $54,000.

Will there be a change in meme coins?

Another interesting forecast revolves around meme coins. The meme coin market capitalization has seen impressive growth recently, with an 11% increase in the last 24 hours. This strong performance, coupled with the historical success of meme coins like Dogecoin, has led analysts to predict a “meme season” in May where meme coins could become the most profitable crypto investments. The emergence of promising new meme coins such as Dogwifhat, Popcat and Real Smurf Cat further strengthens this prediction.

Finally, the highly anticipated decision by US regulators on the Ethereum Spot ETF continues to cast a shadow. As the deadline for the SEC’s decision approaches, a veil of secrecy surrounds the application. The success of the Bitcoin Spot ETF has intensified investor interest in the Ethereum ETF. But the ongoing debate over Ethereum’s classification as a security or commodity has stalled progress. Analysts now predict a delay in the SEC’s decision, citing the prolonged silence and the tense atmosphere surrounding the application.

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