In a recent statement, renowned cryptocurrency analyst Michaël van de Poppe offered an in-depth assessment of the current state of altcoins.
According to the analyst, altcoins are in the final stages of the bear cycle, a period that lasts approximately 29 months.
Van de Poppe states that sentiment towards cryptocurrencies has decreased and Bitcoin is the only currency that has shown a significant movement. However, he believes the end of the bear market is near.
These events, combined with ongoing geopolitical turmoil, have significantly increased the value of gold and will likely continue to push Bitcoin upwards.
According to the analyst, Blackrock CEO's recent comments about Bitcoin and the growing institutional recognition of Bitcoin as a digital version of gold have further supported this bullish trend. Van de Poppe states that he predicts a significant rise for Bitcoin and other altcoins and that Bitcoin will lead this rise.
The analyst says he has observed that larger altcoins such as Chainlink, Solana, and Injective are currently in an upward trend. However, according to Van de Poppe, Ethereum is showing signs of weakness as expectations regarding the ETH futures ETF launch have not been met.
Van de Poppe concludes by asserting that history will repeat itself. Drawing parallels with the 2015/2016 period, the analyst said that he predicted that altcoins would hit bottom and then rise a few months before the Bitcoin halving.
*This is not investment advice.
