According to famous cryptocurrency trader and analyst Michael van de Poppe, as well as analysis platform Income Sharks, altcoin It’s the perfect time to start buying. An X shared by Van de Poppe yesterday in the poststated that “altcoins are “exploding left and right,” indicating that the bull market is here.”
Might be finally time to start buying up some #Altcoins pic.twitter.com/sMQm9HMiGL
NEWS CONTINUES BELOW— IncomeSharks (@IncomeSharks) September 16, 2023
The analyst also explained why some altcoins may be experiencing price increases right now. Van de Poppe believes the most obvious explanation would be that venture capitalists actively encourage investments that are unrelated to any change in market conditions.
Koinfinans.com As we reported, the leading cryptocurrency When units begin to exhibit momentum, it indicates a tangible change in market dynamics. In addition, the Bitcoin (BTC) halving, which is expected to occur within the next 6 to 10 months, provides additional justification for van de Poppe’s recommendation to accumulate altcoins now.
However, it is important to know that the current period is often assigned to the worst period of the cycle as people lose faith in the markets and the markets continue to be extremely bad in terms of investment returns. According to Van de Poppe, people have been hiding their positions for several years and are sold off every rally.
The analyst is a good example of this. ChainlinkHe referred to (LINK). On the 3D chart of the altcoin, a major consolidation period can be seen without much movement taking place. Traders expect a breakout when the price approaches resistance levels and, conversely, a decline when it approaches the lower range.
the #Altcoins are breaking out left and right. The bull market is here.
It’s crucial for altcoins to start moving in this period, as we’re in the worst period of the cycle.
That means, the best period to invest. But why is that? Altcoins are moving massively.
Let’s see. 👇… pic.twitter.com/Zu1GL5nt61
— Michaël van de Poppe (@CryptoMichNL) September 15, 2023
What actually occurs is a significant divergence below the previous low prices, followed by a breakout to the upside, and the current retest holds as a support level. Van de Poppe stated that this is a positive sign for potential upward movement and there is a strong possibility that such an upward trend will continue.