Top Crypto Analayst Shares Update On 'All-In Altcoin' Strategy: 'I've Been Doing This Rodeo For Multiple Cycles Already'

Prominent cryptocurrency analyst Michaël van de Poppe, provided an update on why he remains committed to his all-in altcoins strategy, despite recent market corrections and criticism from skeptics.

What Happened: In a detailed post on Sunday, the analyst highlighted the high risk, stating, "The strategy is, to say the least, very risky as you can lose more Bitcoin than that you have. However, during a bull market, it’s the ultimate strategy to make more Bitcoin through altcoins and that’s been my gameplan."

He also addressed critics who believe he made a wrong decision, reminding them of his past successes. "I've been doing this rodeo for multiple cycles already,” he wrote and pointed to having recovered from a 50% drawdown in USDT valuations and a 75% drawdown in Bitcoin BTC/USD valuations. “The end result was 100x of the entire portfolio," van de Poppe remarked.

While one crypto user stated that meme coins will outperform, van De Poppe predicted that "we're close to peak bubble on memes […] due to the amount of celebrities jumping onto something."

Also Read: These Altcoins Show Bullish Signals While Bitcoin Faces Critical Juncture

Why It Matters: Van de Poppe's strategy involves investing in newer altcoins, which he believes offer higher returns. He predicted a possible 10x return in the next six to twelve months. Citing recent news of Mt. Gox and the German government selling, he stated that these events are short-term panic events and do not affect his long-term strategy.

He also highlighted the importance of the Ethereum ETH/USD, stating it makes "a huge impact.” Due to the recent negativity, people are “underestimating the impact of the Ethereum ETF for the entire space," the analyst pointed out.

Despite the stress and mental toll of market corrections, van de Poppe remains steadfast in his game plan. He concluded by stating, "I don’t mind these short-term price actions, I mind my thesis and gameplan and that’s been providing me rock-solid returns in the previous cycles and will do again."

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next:

• Top Crypto Trader Thinks Bitcoin Has ‘Uncapped Upside,’ Reveals Price Where He Would ‘Max Allocate’

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image created using artificial intelligence with Midjourney.