The post Is Altcoin Season Over or Just Getting Started? Crypto Analyst Michaël van de Poppe Decodes appeared first on Coinpedia Fintech News
As the crypto market anticipates the after-effects of the fourth Bitcoin halving, notable shifts are being observed in market dynamics, potentially setting the stage for an altcoin surge, aka, the alt season! Crypto analyst ‘Michaël van de Poppe’ has provided insights into the changing patterns of Bitcoin dominance and its implications for altcoins.
Analysing Altcoin Strength
Van de Poppe started with the anticipation of altcoin strength that aligns with shifts in Bitcoin dominance, signaling a potential rotation of capital away from Bitcoin and into alternative cryptocurrencies.
Van de Poppe emphasized the significance of monitoring Bitcoin dominance as a leading indicator of market sentiment and potential opportunities in altcoins. Currently, Bitcoin is at 50% dominance, making it a buying opportunity for altcoins.
The analyst notes that the rising wedge pattern in Bitcoin dominance historically signals potential strength for altcoins when broken to the downside. This pattern’s break could pave the way for significant gains in altcoins, marking a possible shift in market dynamics.
Van de Poppe says that altcoins have lost six percent of their value over the past three months compared to Bitcoin, even though Bitcoin’s price may have stayed the same in USD terms. He thinks that this is a great chance for investors. Despite recent corrections, the analyst believes downturns often signal prime entry points for altcoin investment.
Watch out the Entry and Exit Points
Moreover, the analyst further discussed the concept of market rotations, highlighting how capital flows between different segments of the crypto market based on changing investor preferences and market conditions. By observing BTC pairs and analyzing trends in altcoin prices, traders can identify potential entry and exit points to capitalize on market movements effectively.
Lastly, he concluded by suggesting compounding returns by carefully shifting investments between altcoins whose prices have already gone up significantly and those whose prices are about to go up even more. He advises investors to focus on coins with significant movement and strategically consider rotating profits.
Is Altcoin Season Looming?
Even though Van De Poppe is bullish on Altcoin Season. The possibility of another altcoin season is being questioned as the altcoin season index surged above 75 earlier in 2024, only to drop to 25 following the halving event, indicating a focus on Bitcoin. However, despite Bitcoin’s dominance, altcoins experienced greater losses recently, attributed to selling pressure fear. Currently, the index sits at 39, suggesting no imminent altcoin season.
The post Is Altcoin Season Over or Just Getting Started? Crypto Analyst Michaël van de Poppe Decodes appeared first on Coinpedia Fintech News
As the crypto market anticipates the after-effects of the fourth Bitcoin halving, notable shifts are being observed in market dynamics, potentially setting the stage for an altcoin surge, aka, the alt season! Crypto analyst ‘Michaël van de Poppe’ has provided insights into the changing patterns of Bitcoin dominance and its implications for altcoins. Analysing Altcoin … Read MoreNews, Altcoins, Price Analysis
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