A widely followed crypto analyst believes that altcoins are witnessing an encore from the final stages of the 2015 and 2019 bear markets.
Crypto strategist Michaël van de Poppe tells his 663,800 X followers that altcoins are likely hovering in the zone of maximum opportunity for investors with a long-term horizon.
According to Van de Poppe, historical precedent suggests that altcoins tend to hit a bear market bottom eight to 10 months before the next Bitcoin (BTC) halving, a period when traders are usually pessimistic about their crypto holdings.
“The best period is 8-10 months prior to the BTC halve. The period when people have the least confidence that their positions will continue to do well, while we are in the midst of the unfolding of ‘time capitulation…’.
ETH/BTC bottomed out in September 2019. It also bottomed out in October 2015.
Both were exactly 252 days before the Bitcoin halving.”
Traders keep a close eye on the Ethereum vs Bitcoin (ETH/BTC) chart as the pair often signals the trend in the broader altcoin market.
Van de Poppe emphasizes that history often repeats itself and he expects altcoins to emerge from their downtrend in the coming months, similar to how they escaped bear territory in 2019 and 2015.
“Sure, it doesn’t feel like we’ll have any leverage on altcoins, but more often than not history repeats itself. It also repeats itself despite all the variables in the markets.
Right now it’s the fears of a recession (but how many times have we gotten one when everyone is expecting it?). I’m sure we had the same in 2015 and 2019, and I’m also sure we’ll have stories to move markets forward.
[Moral of the story]: Remain seated when holding bags. Buy altcoins if you haven’t already and hold them for 2 years.”
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