Renowned Analyst Declares Arrival of Altcoin Bull Market

• Analyst Michael van de Poppe suggests it’s an ideal time to buy altcoins.
• Van de Poppe attributes altcoin price increases to venture capitalist promotion.
• The analyst predicts a continued bullish trend for altcoins.

According to the analytics platform Income Sharks and esteemed cryptocurrency trader and analyst Michael van de Poppe, the current moment is ideal for purchasing altcoins. A recent post by van de Poppe indicates that altcoins are experiencing widespread breakouts, implying the arrival of a bull market.

The analyst further clarified the reasons behind the recent price increases of certain altcoins. Van de Poppe posits that the most evident reason could be venture capitalists active promotion of these altcoins to draw in investments, irrespective of any changes in market conditions.

However, when leading cryptocurrencies start showing momentum, it signifies a noticeable change in market trends. Furthermore, the impending Bitcoin halving, projected to happen in the next 6 to 10 months, provides further justification for van de Poppe’s advice to start acquiring altcoins at this time.

However, it is crucial to understand that the present phase is frequently associated with the most challenging part of the cycle, as individuals lose confidence in the markets and the markets persist in delivering extremely poor ROI. As per van de Poppe’s observations, Investors have held onto their positions for several years, and every surge is being liquidated.

The expert pointed to Chainlink as a prime illustration of this scenario. The altcoin’s 3D chart reveals a significant consolidation phase with minimal price fluctuation. Market participants predict a surge when the price nears resistance levels, and conversely, they foresee a drop when it approaches the lower range.

The current situation is characterized by a significant drop below previous price lows, succeeded by an upward surge, with the present retest serving as a support level. According to Van de Poppe, this is an encouraging indicator for possible continued upward progression, and there is a high probability that this bullish trend may persist.