Crypto News- Timing Appears Ideal for Altcoin Investment, Backed by Income Sharks Analytics and Cryptocurrency Expert Michael van de Poppe
Renowned Analyst Predicts Arrival of Altcoin Bull Market
Income Sharks, an analytics platform, and the well-respected cryptocurrency trader and analyst Michael van de Poppe both agree that now is the opportune moment to delve into altcoin investments. In a recent post shared by van de Poppe, he enthusiastically declared that altcoins are experiencing significant breakouts, signaling the advent of a bullish market.
Van de Poppe went on to elucidate the reasons behind the current surge in certain altcoins. According to him, the primary factor behind this phenomenon could be the proactive promotion of these altcoins by venture capitalists to attract investment, irrespective of prevailing market conditions.
Nevertheless, the surge in well-established cryptocurrencies signifies a tangible shift in market dynamics. Furthermore, van de Poppe pointed to an additional incentive for accumulating altcoins at this juncture: the impending Bitcoin (BTC) halving, expected to occur within the next 6 to 10 months.
However, it’s crucial to acknowledge that the current period is typically characterized as the market’s nadir, marked by dwindling confidence and abysmal returns on investment. Van de Poppe noted that many investors have been holding onto their positions for several years, and every rally is met with sell-offs. As an illustrative example, he cited Chainlink (LINK). On LINK’s 3D chart, a prolonged consolidation phase is evident, with minimal price movement.
Investors await a breakout when prices approach resistance levels and anticipate declines when nearing the lower range. However, a noteworthy deviation below previous price lows followed by an upward breakout has occurred, with the current retest holding as a support level. Van de Poppe interpreted this as a positive sign, suggesting the potential for sustained bullish momentum.