- Michaël van de Poppe outlines his altcoin investment thesis around mispricing, volatility, and risk-adjusted opportunity.
- He argues that many altcoins remain deeply undervalued despite strong fundamentals and improving tokenomics.
- Based on this analysis, he shares eight altcoins he’s currently buying, with potential upside ranging from 200% to 400%.
Michaël van de Poppe, Founder of MN Fund, recently shared his outlook on the current altcoin market, highlighting eight altcoins he believes are significantly undervalued. He emphasized key investment concepts such as mispricing and risk, offering a strategic perspective on navigating the crypto space during this unique market cycle.
Understanding Mispricing: The Key to Altcoin Opportunities
Van de Poppe explained that mispricing occurs when an asset’s current market value diverges from its intrinsic value, creating potential opportunities for investors. Using Bitcoin as a prime example, he illustrated how prices can swing between being severely overpriced or underpriced due to market sentiment, external events, and fundamentals.
He cited Bitcoin’s peak near $70,000 in 2021, which many considered overheated, compared to its drop to $20,000 after a series of unrelated crises like the FTX collapse and Terra Luna crash. This mismatch between price and value defines the opportunity window for traders to enter or exit positions, according to Van de Poppe.
Risk and Reward
According to the analyst, understanding risk is crucial when investing in altcoins. Altcoins inherently carry higher volatility than traditional assets such as bonds, which translates to greater potential rewards, but also greater risk.
He stressed the importance of comparing potential returns against risk-free benchmarks, such as bond yields or Bitcoin’s performance, to ensure that altcoin investments offer an attractive risk-adjusted return.
Related: Bitcoin Holds Higher Low, Eyes $115K Breakout: Will Altcoins Follow?
Top 8 Altcoins for 2025
Van de Poppe named eight altcoins he is currently accumulating, all of which he views as severely undervalued relative to their potential. Specifically, he cited Optimism (OP), Bittensor (TAO), SEI, Wormhole (W), Renzo (REZ), Celestia (TIA), AO, and RocketPool.
He highlighted examples like Optimism, which is trading well below its December 2024 highs. He presented an estimated upside of nearly 280%. Similarly, Bitensor offers a potential 380% gain based on current valuations, according to the analyst.
Why Now is a “Depression Period” for Crypto
Van de Poppe described the current market phase as a “depression period” for altcoins, marked by subdued trading volumes, reduced venture capital activity, and lower marketing momentum. Despite this, he believes liquidity will return, driven by the fundamental mispricing gap combined with the inherent volatility of crypto assets.
He warned investors to expect downside risks of 40-50% in the short term. Yet, he argued that the longer-term upside could exceed 300%, making this an attractive risk/reward profile for savvy investors.
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