Ethereum News Today: Ethereum's 6.7% surge sparks 200-400% altcoin rally prediction

Widely followed crypto analyst Michaël van de Poppe has predicted that retail traders will enter the crypto markets in large numbers once Ethereum (ETH) reaches a new all-time high (ATH). According to van de Poppe, who has 795,600 followers on the social media platform X, the current market conditions present an optimal opportunity for investors to accumulate altcoins. He believes that once ETH surpasses its previous high, retail traders, who are typically late to the market, will rush in, driving up the prices of altcoins by 200-400%.

Van de Poppe's analysis is based on the recent performance of ETH, which has erased six months of losses and is now trading above $3,250. He anticipates that as ETH and Bitcoin (BTC) stabilize, altcoins within the Ethereum ecosystem will follow suit, experiencing significant price increases. The analyst predicts that ETH has the potential to rise by more than 23% from its current value, reaching $4,000. He advises investors to use any corrections as opportunities to buy the dips.

ETH is currently trading at $3,234, marking a 6.7% increase in the last 24 hours. Its previous all-time high was in November 2021, when it reached approximately $4,900. Meanwhile, BTC is trading at $119,051, up 2.2% on the day. Van de Poppe also notes a bullish divergence in the altcoin market cap versus Bitcoin (TOTAL3/BTC) chart, suggesting that altcoins are poised to outperform BTC. TOTAL3 tracks the total market cap of crypto, excluding Bitcoin, Ethereum, and stablecoins. A bullish divergence indicates rising buying momentum despite lower or sideways price movements.

Van de Poppe's prediction is based on the assumption that ETH will continue to gain momentum and attract more investors. He believes that the current market conditions present an optimal opportunity for investors to accumulate altcoins, as retail traders are typically late to the market and will rush in once ETH reaches a new all-time high. However, he cautions that investors should be prepared for potential volatility and uncertainty in the market.