According to the famous crypto trader and analyst, Michael van de Poppe, who is also known for his analyses, now might be a great time to start buying altcoins. According to a recent post shared by Van de Poppe, altcoins are making clear breakouts, indicating that the bull market may be closer than expected.
Altcoin Predictions
In addition, the analyst warned investors by highlighting why some altcoins may be experiencing price fluctuations at the moment. Van de Poppe believes that the most obvious method would be to actively encourage venture capitalists to invest without any new innovations in market conditions.
Furthermore, when leading cryptocurrencies start gaining momentum, it may indicate a significant shift in the market. Additionally, the upcoming Bitcoin (BTC) halving, expected to occur within the next 6 to 10 months, can be seen as an additional reason for Van de Poppe’s suggestion to accumulate altcoins.
Moreover, considering the decrease in people’s faith in the markets and the extremely poor performance in terms of investment returns, it is not unreasonable to think that the current period generally marks the worst phase of the cycle. According to Van de Poppe, people have been holding their positions for years and preparing for major rallies.
Will Chainlink Fall?
The analyst used Chainlink (LINK), one of the leading cryptocurrencies, as a good example. The price chart of this altcoin gives the feeling of a significant consolidation period with little movement. Investors can expect a breakout when approaching price resistance levels and anticipate a decline when approaching the lower range.
In fact, the emerging situation may involve a notable deviation below previous low prices, followed by an upward breakout, a retest of the current resistance level, and holding as a support level. Van de Poppe shared with investors that this could be a positive indicator for a potential upward movement and the likelihood of such a bullish trend continuing.
