- An analyst thinks the crypto market bull run is entering the “Banana Zone.”
- Renowned analyst spots OP, TIA, TAO, and ENS for significant rallies.
- Newer altcoins have more profit potential than older ones.
Renowned cryptocurrency analyst Michael van de Poppe thinks the crypto market bull run is entering the “Banana Zone.” In a recent podcast , Poppe mentioned the altcoins he holds in his portfolio, classifying them into bigger and smaller sizes depending on his performance expectations. He also addressed some of his followers’ concerns about some cryptos he praised in the past.
According to Poppe, he holds Optimism (OP), Celestia (TIA), Bittensor (TAO), and Ethereum Name Service (ENS) as “big” altcoins. Meanwhile, he holds Renzo (REZ), Omni Network (OMNI), Rocket Pool (RPL), and Aevo (AEVO) as “small” altcoins. However, he clarified about posting about other altcoins, noting those are cryptos in his company’s portfolio but are not in his wallet.
Read more : Altcoin Season Dawning? Analyst Sees Bullish Shift
Poppe responded to a follower asking why he no longer held Chainlink (LINK) after promoting the crypto in the past. The analyst stated that older altcoins do not have the same profit potential as their newer counterparts. Despite believing that Chainlink would do well, considering its crucial role in the DeFi sector, Poppe thinks newer assets would have a higher return during the bull run.
The analyst acknowledged LINK’s outstanding performance in the previous bull cycle when the altcoin made almost 15,000% in returns. He expressed less optimism this time, predicting that LINK could deliver at most a 15x return when the bull run kicks in. Compared with newer altcoins, Poppe noted that they are in a similar stage as LINK was in the previous cycle, leaving room for higher profit potential.
Read more : Favorite Crypto Narratives for the Rest of the 2024 Bull Cycle
Speaking on selling old altcoins to purchase the more recently created token, Poppe said it depends on individual risk appetite. According to the analyst, while older coins have the potential to break their previous all-time highs, their percentage returns would likely be lower, unlike newer crypto assets with less value and an endless frontier of price range as their targets.
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