Widely followed crypto analyst Michael van de Poppe shared the latest from his volatile altcoin portfolio in his current analysis. The portfolio is currently at a loss of 16% and is developing new strategies to counter current market conditions.
Michael van de Poppe reveals his $1,000 altcoin portfolio
The technical analyst reported that the $1,000 altcoin portfolio he started last week is currently underwater. The portfolio consists of 5 high-volume altcoins such as LINK and CRV. According to Poppe’s updates, the altcoin basket is currently in huge losses. But Poppe remains optimistic about the future, noting that he has held the portfolio for several months.
Accordingly, the analyst has a portfolio of $ 1,000 distributed between Chainlink (LINK), Curve (CRV), Cosmos (ATOM), Axie Infinity (AXS) and Lux. Van de Poppe says the first rally candidate is LINK.
Chainlink (LINK)
Poppe states that Chainlink is consolidating in a range and expects it to start rising before adjusting its strategy. Meanwhile, Lux is the only altcoin that drops significantly and can be exchanged for Chainlink to provide additional opportunities. But as LINK consolidates around the area it used to buy positions, it just holds on and waits for the market to turn.
Analysis of the current market situation
Poppe says the markets could drop further as they create a potential bottom structure. Most altcoins are currently busy holding critical support levels. The analyst says that new opportunity purchases can only appear after my resistance levels have been overcome. He also points out that all positions are currently in a bottoming procedure with the potential to sweep bottoms.
Analysts agree on a positive short-term future
cryptocoin.com As we, we mentioned that many senior names from the industry expect a sharp rise from Bitcoin in the environment of the banking crisis. Balaji S. Srinivasan, the former CTO of Coinbase, shared his 7-digit BTC predictions last week.
BTC is currently meeting most expectations. The leading crypto is trading in the $28,000 region, where it has posted weekly gains of over 30%. It had slumped below $20,000 in recent weeks before turning its banking crisis into an opportunity.
Just as in 2008, the bankers lied.
This time, the central bankers, the banks, and the bank regulators have lied to all dollar holders and depositors.
This isn't your typical fractional reserve situation. The problem is that there isn't enough in the https://t.co/0r66c51uGq… https://t.co/ucoN3PlxSU pic.twitter.com/5nnxaoW9db
— Balaji (@balajis) March 17, 2023
Van de Poppe altcoin pick, Axie Infinity (AXS), could make drastic moves this week
The Game Developers Conference (GDC) kicked off on March 20 and is followed closely by a wide audience of developers and gamers. AXS, one of the Gamefi Coins that will participate in the conference, gained strong momentum against Bitcoin. Recent reports showing Bitcoin rising 17% on a weekly scale show that AXS is one step ahead at 18.6%.
