The post When Will Altcoin Season 2024 Start? Crypto Expert Michael van de Poppe’s Market Predictions appeared first on Coinpedia Fintech News
Bitcoin wrapped April on a very bad note, a decline never seen before. Despite the bearish momentum, renowned market analysts Michael van de Poppe believe Bitcoin’s correction phase may be reaching its end. In a recent podcast van de Poppe covered altcoin season and market cycles to optimize profits.
Is Altcoin Season Looming?
Van de Poppe is feeling bullish about the potential for an altcoin season, but recent trends have cast doubt on its immediate arrival. The altcoin season index surged earlier in 2024 but plummeted after the halving event, indicating a renewed focus on Bitcoin.
Although Bitcoin’s dominance is at 50%, altcoins have taken a harder hit recently, fueling concerns about selling pressure. Currently, the index sits at 39, suggesting that an altcoin season is not imminent. However, analysts view this as a buying opportunity for altcoins.
Van de Poppe recommends a strategic trading approach to take advantage of the potential altcoin season. This involves identifying altcoins showing strength and uptrends, then rotating profits into other coins likely to follow suit. He believes that Bitcoin and Ethereum are still undervalued compared to their potential upside.
Discussing market cycles, Van de Poppe suggests that each cycle is lengthening due to increased liquidity and mass adoption. He predicts that the current cycle could extend until 2026 or 2027, with Ethereum possibly leading the altcoin pack.
Van de Poppe highlights several altcoins with strong potential for appreciation. Solana, having endured a lengthy bear cycle, is poised for further upside potential, making it an attractive investment option. Despite rumors of a “memecoin supercycle,” Solana has gained 450% in a year. On a similar note, Ethereum, despite lagging behind Solana in price, is showing signs of breaking out.
Next up emerging out is NEAR Protocol also a promising contender, displaying bullish technical analysis. Additionally, Chainlink is currently at its lowest point in the cycle, presenting an appealing investment opportunity. A breakthrough of the $27 resistance level and consolidation could signal a good time to establish a significant position.
Alt season 2024 will not be like 2020/2021 when all cryptocurrencies exploded. The 2024 alt season will split. Experts predict that the crypto bull market of 2024 will be a hidden bull market. What do think? Tell us.
