Altseason: Altcoin Rally To Start in Next 1-2 Weeks – Predicts Analyst Michaël van de Poppe
The post Altseason: Altcoin Rally To Start in Next 1-2 Weeks – Predicts Analyst Michaël van de Poppe appeared first on Coinpedia Fintech News
Bitcoin (BTC) bulls opened the last week of January full of energy after closing last week on a bullish hammer candlestick. However, the altcoin market is also pressing to rally further in the coming days after a successful breakout and retest.
Furthermore, the initial intensified Bitcoin price fluctuations caused by heightened spot ETF volume have already been priced in, and consolidation could reign in the coming months. Additionally, the ETH/BTC pair is on the cusp of a historical price reversal, which will accelerate the altcoin speculation.
Stablecoins Supply Signal Bull Cycle
With the supply of stablecoins led by Tether USDT and Circle’s USDC gradually increasing in the past year, the overall buying power has risen in tandem. As a result, the anticipated crypto bull cycle is undeniably in the early stages, as the bear market lows have already been established. Meanwhile, understanding the crypto cash rotation is key to maximizing profits in the bull markets.
Timelines on Bitcoin vs Altseason
Very likely chance #Bitcoin has finished its correction since the ETF launch.
This means the rotation towards altcoins will likely start in the next 1-2 weeks when ecosystems are thriving in returns before Bitcoin breaks the highs again.
Good morning!
— Michaël van de Poppe (@CryptoMichNL) January 29, 2024
According to a famous crypto analyst Michaël van de Poppe, the highly anticipated altseason could kick off in the next one to two weeks. With the spot Bitcoin ETF frenzy behind, the crypto analyst is confident Bitcoin price will continue to consolidate in the zone between $37k and $48k in the coming months.
Nonetheless, Poppe expects Bitcoin price to reach a new all-time high soon after the altcoin market gains about $500 billion. Furthermore, crypto cash rotation shows the altcoin market largely depends on Bitcoin for liquidity in addition to the stablecoins market.
Filed under: Bitcoin - @ January 29, 2024 8:26 am