Altcoins
Top Analysts Predict “Hidden” Altcoin Bull Market: Stock Up on THESE Coins Now!
Bitcoin had a rough time in April, plunging like never before.
But there is a glimmer of hope on the horizon, according to market expert Michael van de Poppe. He believes the worst might be over when it comes to the Bitcoin price decline. 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 ideas.
Is Altcoin Season Imminent?
Van de Poppe feels bullish on the potential for an altcoin season, but recent trends have cast doubt on its immediate arrival. The altcoin season index jumped earlier in 2024, but fell after the halving event, indicating renewed interest in Bitcoin.
Although Bitcoin’s dominance is at 50%, altcoins have recently been hit harder, fueling concerns over selling pressure. Currently, the index sits at 39, suggesting that an altcoin season is not imminent. However, analysts see this as a buying opportunity for altcoins.
Tough times call for a strategy!
Van de Poppe advises taking a cautious approach to take advantage of the altcoin’s potential upside. Look for altcoins that are doing well and growing, then transfer the profits to other promising altcoins. He believes the price of Bitcoin and Ethereum is still lower than what they could be worth.
Van de Poppe says market cycles are lengthening because more people are joining and using cryptocurrencies. He believes this cycle could last until 2026 or 2027, with Ethereum leading 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 bear cycle, is poised to experience further upside potential, making it an attractive investment option. Despite rumors of a “memecoin supercycle,” Solana gained 450% in one year. Along the same lines, Ethereum, although lagging behind Solana in terms of price, is showing signs of breaking up.
NEAR Protocol is another promising player that is showing good signs in its analysis. Chainlink is at its lowest point in the cycle, making it a good buying opportunity. Crossing the $27 mark and remaining stable could be a green light for investors.
Unlike the wild altcoin boom of 2020/2021, experts predict that the 2024 altcoin season will be more muted. They call it a “hidden bull market.”
What do you think about this new crypto trend? Share your thoughts.