Analyst Places Bullish Bet On Polkadot, Ethereum And These Altcoins

Well-known crypto analyst Michaël van de Poppe has singled out Ethereum (ETH), Polkadot (DOT), Cosmos (ATOM), SKALE (SKL), Mina Protocol (MINA), and Concordium (CCD) as his purchases in a bearish market.

Poppe, who is known for providing insights into crypto charts and using technical indicators to predict the prices in the volatile industry, revealed that his investment in Verasity (VRA) went up by 200 times during the previous bull run.

Ether price action turned bullish recently following the Goerli test net and the transition to ETH 2.0 could be a major reason why Poppe is accumulating Ether (ETH).

Polkadot (DOT) is known for its parachain technology, which allows multiple projects with distinct ecosystems to be built on the blockchain.

Cosmos (ATOM), known as the internet of blockchains, is similar in structure to Polkadot (DOT) and allows the existence of interoperable blockchains within its ecosystem.

SKALE Network is capable of boosting transaction capacity and is an Ethereum scaling solution. It is best described as an elastic network.

Meanwhile, Mina (MINA) is a minimal "succinct blockchain" that is described as the world's lightest blockchain. What makes it unique is that its size remains unchanged despite growth in usage.

Lastly, Concordium (CCD) is a public-permissionless layer one blockchain with leadership from Volvo, IKEA, Credit Suisse, and others.

While talking about the current bearish market, Poppe commented on the mentality of investors which is as volatile as the market itself.

"People are too much focused on one bias and are tunnel-visioned on the outcome of the markets. People are also using that bias to read the exact same thoughts on social media, so it proves their thesis," Poppe, who has over 624,000 followers on Twitter, said.