Jakarta, Pintu News – With Bitcoin recently hitting a record high of $111,980 and commanding 64.64% of the market, many are beginning to wonder when altcoin season will arrive.
Meanwhile, Michael van de Poppe, a veteran crypto expert, believes that altcoin season is just around the corner, after several years of underperformance. Global factors such as central bank policies and DeFi progress seem to be slowing down the arrival of altcoin season.
Check out the full analysis here!
Michael revealed that altcoins have been underperforming since late 2021. The last big altcoin season was in 2017, when almost all altcoins experienced significant gains. In 2021, the old altcoins are not doing as well as the new tokens that have emerged.
In 2024, most of the hype focuses on memecoins, not regular altcoins. Over the past four years, Bitcoin (BTC) peaked at $65,000, and during that time, about 95% of altcoin gains have been made.
However, after that, altcoins continued to decline and people’s interest in them began to fade. Michael emphasizes that this is an opportunity to buy altcoins secretly, before others notice.
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According to Van de Poppe, this cycle is different because we are still in “Bitcoin season,” where people are afraid to take risks. Central banks are changing their economic policies, and many fear a recession. Real progress is happening in DeFi and other parts of the crypto world.
Gold even hit a new record high, which might make people feel safer about investing again. Even the Chinese Renminbi performed better than the US Dollar, which often helps Ethereum perform better than Bitcoin (BTC). This suggests that there are market dynamics that could benefit altcoins in the near future.
Read also: John Deaton: “Buying Bitcoin (BTC) at $106,000 is Safer than $25,000!”
Michael shared that many people are patiently waiting for the altcoin season, wondering when it will start. Currently, there are two types of people in the market; some think that the market is still in a bear phase, while others believe that the next big bull run has just begun. Michael feels that now is the perfect time to accumulate altcoins. Many of them are low in price and have strong teams.
With all these factors at play, it may be the right time to consider investing in altcoins. Michael van de Poppe suggests that this is an opportunity to invest before more people realize the potential. With the current market situation, it may not be long before we see the anticipated altcoin season.
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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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