The bear season continues in the cryptocurrency market and many investors are wondering when this period will end. In this uncertain market, analyst Michaël van de Poppe, founder of MN Trading, comments on the current state of altcoins and their future potential. your opinions shared.
Van de Poppe suggested that altcoins are in the final stages of a bear market. The analyst stated that altcoins have been in the bear market for a long time, dating back to 2021. According to Van de Poppe, this has been the longest bear period ever for altcoins. A bear market refers to a period when assets lose value and overall market sentiment is low. This reflects a period when cryptocurrencies lost value and investors became risk averse.
“This bear market has been the longest-running bear market for altcoins. Altcoins like Chainlink peaked (versus BTC) in August 2020, and most altcoins also peaked in dollar value in May 2021. That’s about 29 months. But we are still approaching the Bitcoin halving event, as well as a spot ETF in Bitcoin. Meanwhile, we are experiencing a lot of turbulence on the geopolitical ground. “This has pushed gold up significantly and will likely continue to push Bitcoin up some more.”
As can be seen, Van de Poppe noted that Bitcoin is starting to recover amid geopolitical tensions and increased institutional interest. The analyst also predicted that a new Bitcoin halving cycle will begin, which has historically also affected altcoins. According to the analyst, altcoins hit bottom a few months before the halving event in past cycles.
Although crypto sentiment remains very weak at the moment, Van de Poppe predicts a rise in the future. He emphasized that major altcoins are already showing signs of life again, and that Bitcoin dominance is increasing as money turns to the leading cryptocurrency first. The founder of MN Trading advised building positions slowly in these discouraging market conditions. He claimed that most people will not realize that a new bull market has begun until the next few years.
Van de Poppe suggested that despite the widespread perception that the market is in a downturn, it is time for savvy investors to allocate positions in cryptocurrencies. While the market appears to be reflecting the bearish trend of 2019, Van de Poppe advised investors to consider historical examples from 2015 and 2016.
In conclusion, Michaël van de Poppe believes that although risks remain, historical patterns point to the end of the altcoin bear era. While Bitcoin regains its upward momentum in the next halving event, altcoins may follow this rise as confidence increases.
You can follow the current price movement here.