The post Veteran Trader Reveals Bitcoin Has Entered First Phase of the Bull Cycle appeared on BitcoinEthereumNews.com.

Renowned market analyst Michaël van de Poppe recently indicated that Bitcoin (BTC) has successfully exited the accumulation phase and is now entering the first phase of the bull cycle.  According to van de Poppe, this marks the commencement of the first year of the bull cycle, signaling the end of the preceding bear market. In an accompanying chart, van de Poppe calls attention to four phases of the market cycle: the bear market (in red), the accumulation year (in green), the first bull phase (in purple) and the second bull phase (in green). According to him, the market often follows this path. BTC Market Cycle | Michaël van de Poppe The latest bear market, spanning from November 2021 to November 2022, reached its nadir in November, with BTC finding its bottom at the time. The analyst says this phenomenon set the stage for a subsequent year of accumulation.  – Advertisement – As the current month draws to a close, van de Poppe asserts that this accumulation period is concluding, paving the way for the first phase of the bull cycle. This first phase of the bull cycle could span another year. He notes that this is typical in the market cycle. Bitcoin Enters the Bull Cycle During this initial bull phase, Bitcoin typically experiences a gradual upward trajectory, albeit without breaking its all-time high. While the firstborn crypto steadily ascends, altcoins begin to gain momentum. The market has observed this pattern in recent times. Van de Poppe suggests that this phase is when altcoins exhibit significant growth. Notably, altcoins such as XRP, Cardano, and Chainlink have witnessed impressive surges, respectively up 11.21%, 21.53%, and 36.82% over the past seven days. The analyst notes that most altcoins have already emerged from the bear market. He highlights that as long as Bitcoin…

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Filed under: News - @ November 9, 2023 11:24 pm