Widely followed crypto analyst Michaël van de Poppe is predicting rallies to the upside for the crypto markets as he offers a fresh forecast for leading smart contract platform Ethereum (ETH).
Van de Poppe tells his 618,800 Twitter followers that he’s keeping a close watch on Tether Dominance chart (USDT.D), which shows how much of the crypto market cap is comprised of stablecoin Tether (USDT).
According to Van de Poppe, the USDT.D chart has a lot of room to drop, suggesting that market participants are likely to let go of their USDT positions in favor of other crypto assets.
“The USDT dominance is still eager to drop another 23%, resulting into the markets having some more momentum upwards.”
Source: Van de Poppe/Twitter
Van de Poppe’s