Ethereum’s recent price strength could be setting the stage for a massive altcoin rally of up to 500% as soon as October, according to market analyst Michaël van de Poppe.
The co-founder of MN Trading Capital said on Thursday via X (formerly Twitter) that he is “fully invested” in altcoins, predicting gains of 200% to 500% over the next two to four months.
“ETH’s recent move is the first step toward greater risk appetite,” van de Poppe stated.
Ethereum (ETH) has risen 6.09% in the past 24 hours, trading at $3,854 at the time of writing, according to Nansen data.
ETH/BTC Ratio Shows Strong Momentum
The ETH/BTC ratio, a key metric of Ethereum’s performance relative to Bitcoin, has surged 38.53% in the past 30 days, according to TradingView. Many traders view Ethereum’s rally as a leading indicator for broader altcoin market breakouts, suggesting a shift in investor appetite toward higher-risk crypto assets beyond Bitcoin.
Historical Q3 Weakness Could Be a Factor
Not all market participants are convinced the rally will last. Trader Ash Crypto warned that August and September have historically been weak months for cryptocurrencies, advising a “cautiously bullish” approach.
According to CoinGlass, Q3 has been Ethereum’s worst-performing quarter since 2016, delivering an average gain of only 6.48%.
Diverging Trader Opinions
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Muneeb, a crypto trader, believes “this stage has ended for now,” signaling skepticism about further upside in the short term.
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A move to $4,000 — just 3.7% above current prices — could put an estimated $817 million in ETH short positions at risk of liquidation.
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Cas Abbe suggests the opposite, saying this is the “perfect time for ETH to ‘rekt’ the bears,” citing a drop in exchange supply and growing institutional interest.
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Analyst Wolf hinted that Fundstrat’s $16,000 ETH target from Tom Lee is “not impossible,” summarizing the potential market trajectory as “volatility, disbelief, then verticality.”
Key Takeaways
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Ethereum’s rally may lead to a 200%–500% altcoin surge by October.
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ETH/BTC ratio up 38.53% in 30 days, signaling strong market momentum.
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Q3 historically weak for ETH, with average gains of just 6.48% since 2016.
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Diverging trader opinions highlight market uncertainty heading into fall.
