In a recent statement, famous cryptocurrency analyst Michaël van de Poppe shared his views on the current situation of Bitcoin and altcoins. According to Van de Poppe, Bitcoin has completed its accumulation phase and has now entered the first part of its bull cycle.
Van de Poppe suggests that the bear market, which lasted from November 2021 to November 2022, is over. According to the analyst, the subsequent accumulation year also ended, marking the beginning of the first year of the bull cycle.
The analyst said that from this stage onwards, he expects Bitcoin to move slowly upwards without reaching its all-time high.
According to the analyst, altcoins, most of which have reached the end of the bear market, are also showing promising signs. Van de Poppe argues that as long as Bitcoin does not fall, altcoins will begin to wake up significantly and could experience potential rises.
Van de Poppe explains that cryptocurrency markets go through various cycles that typically span four years. According to the analyst, these phases consist of bear, accumulation, bull and extreme optimism periods.
The analyst argues that altcoins gradually improve as BTC pairs fall during the bull cycle.
*This is not investment advice.