Experienced cryptocurrency analyst and strategist Michael van de Poppe reported that altcoins seem to be repeating the final stage of the bear market, similar to what happened in 2015 and 2019. According to the analyst, altcoins are currently in a maximum opportunity zone for long-term investors who view them as a whole.
Cryptocurrency analyst Michael van de Poppe said that altcoins are currently in a maximum opportunity zone for long-term investors. According to Van de Poppe, past price trends show that altcoins tend to hit the bottom of the bear market during a period when investors are generally pessimistic about cryptocurrencies, such as 8 to 10 months before the next Bitcoin (BTC) block reward halving:
The best time to buy altcoins is 8-10 months before the block reward halving of BTC. This period is when people have the lowest confidence that their positions will continue to perform well because it is in the midst of the relaxation of ‘time capitulation.’ The ETH/BTC pair reached its lowest point in September 2019 during its cycle. It also hit bottom in October 2015. Both were exactly 252 days before the Bitcoin block reward halving.
As emphasized by Van de Poppe, the ETH/BTC pair, which reflects the value of Bitcoin against Ethereum (ETH), generally indicates the trend in the broader altcoin market.
Advice from the Analyst: “Hold Altcoins If You Have Them, Buy If You Don’t”
The analyst highlighted the tendency for history to repeat itself and stated that altcoins are expected to break out of the downtrend and move upward in the coming months, similar to their escape from the bear market zones in 2019 and 2015. He said:
It doesn’t seem like we will strengthen altcoins much, but history often repeats itself. Despite all the variables in the markets, it repeats. There is currently fear of a recession in the market (but we should look at how often recessions occur while everyone expects it). I’m sure the same thing happened in 2015 and 2019, and I’m sure narratives that will drive the markets forward will come again. Moral of the story: Hold on to your altcoin bag if you have one and don’t sell them. If you haven’t bought altcoins yet, buy them and hold them for 2 years without selling.
