Altcoin
Top Analysts Predict a “Hidden” Altcoin Bull Market – Stock Up on THESE Coins Now!
Bitcoin had a rough time in April, taking a dive like never before.
But according to market expert Michael van de Poppe there is a glimmer of hope on the horizon. He thinks the worst may be over due to the drop in Bitcoin prices. Recently, he talked about altcoin seasons and market cycles in a podcast, giving advice on how to make the most of them.
Here is a detailed analysis of his insights.
Is Altcoin Season Approaching?
Van de Poppe can be heard bullish on the potential for an altcoin season, but recent trends have cast doubt on its immediate arrival. The altcoin season index rose in early 2024, but collapsed after the halving event, indicating renewed focus on Bitcoin.
While Bitcoin dominance stands at 50%, altcoins have recently taken a hit, fueling concerns about selling pressure. Currently, the index stands at 39, suggesting that altcoin season is not imminent. However, analysts see this as a buying opportunity for altcoins.
Difficult times require strategy!
Van de Poppe recommends a careful approach to profit from the potential recovery of altcoins. He looks for altcoins that are doing well and growing, then shifts profits into promising ones. He thinks Bitcoin and Ethereum are still priced below what they might be worth.
Van de Poppe says market cycles are getting longer as more and more people join together and use cryptocurrencies. He thinks this cycle could last until 2026 or 2027, with Ethereum paving the way for other altcoins.
In search of hidden gems
Van de Poppe highlights several altcoins with strong appreciation potential. Solana, after enduring a long bearish cycle, is poised for further upside potential, making it an attractive investment option. Despite rumors of a “memecoin supercycle,” Solana gained 450% in one year. Likewise, Ethereum, despite lagging behind Solana in terms of price, is showing signs of breaking through.
The NEAR protocol is another promising player showing good signs in its analysis. Chainlink is at the lowest point in the cycle, making it a good buying opportunity. Crossing the $27 threshold and remaining stable could be the green light for investors.
Unlike the wild altcoin boom of 2020/2021, experts predict that the 2024 altcoin season will be more modest. They call it a “hidden bull market.”
What is your opinion on this new trend in the world of cryptocurrencies? Share your thoughts.