In a recent statement, famous cryptocurrency analyst Michaël van de Poppe shared his views on the altcoin market after Bitcoin went through halving.
Altcoins have experienced a significant decline, dropping over sixty percent in just three months. Despite this setback, van de Poppe remains optimistic about the future of altcoins.
Van de Poppe emphasizes that market perception depends largely on the discourse one chooses to adopt. According to the analyst, judging by the USD values, the markets do not appear to be in a bear market as there is a significant increase.
Van de Poppe argues that BTC valuations are more important than USD valuations because they provide a clearer picture. For example, if Chainlink rose from $6 to $12, but Bitcoin rose from $25,000 to $70,000, holding Bitcoin during this period would have yielded a higher return on investment.
After two important events for Bitcoin, van de Poppe states that there is a slow but sure turn towards altcoins. Bitcoin Spot ETF excitement has faded and the Bitcoin halving is over. These developments show that the spotlight is slowly shifting towards altcoins, according to the analyst.
Van de Poppe believes that this cycle will last longer than the previous one for several reasons. According to the analyst, more liquidity is needed to move the markets, and as the market value increases, the liquidity required to move the markets also increases. This means Bitcoin will likely enter a longer cycle.
According to the analyst, when we look at the BTC values of altcoins, we see a 70% decrease since January. The sentiment is quite weak, which makes this a good time to step into altcoins, especially when Ethereum is starting to reverse and will probably have a very positive month in May, according to the analyst.
*This is not investment advice.
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