Renowned Investor Advises Buying Altcoins Amidst Bullish Sentiments
Date: 2023-09-17 Author: Dima Zakharov Categories: BLOCKCHAIN
The Bullish Altcoin Market: A Promising Opportunity
Van de Poppe added that market participants have been noting the substantial strides taken by some alternative cryptocurrencies, primarily due to venture capitalists actively pouring funds into these assets. According to his insights, the present moment presents a golden opportunity to invest in altcoins, with a significant event on the horizon: Bitcoin's halving, scheduled for April 2024, a pivotal point in the cryptocurrency cycle.
Navigating the Challenging Phase Preceding Bitcoin's Halving
The industry expert highlighted that the current period, roughly 8 to 10 months before the halving of Bitcoin mining rewards (BTC), is traditionally considered the most challenging phase of the cycle. This is when individuals tend to lose faith in the markets, and as a result, they continue to yield poor returns on their investments.
Long-term Holding: A Risky Strategy for Some Altcoins
Van de Poppe pointed to Chainlink (LINK) as an example, illustrating the drawbacks of long-term holding. Examining its price chart reveals a lengthy consolidation period characterized by minimal significant movements.
Bullish Market Trend for Altcoins: A Belief in Breakouts
The analyst reassured investors, stating that many believe they will escape the massive sideways structure every time they encounter resistance and slump to new lows. However, in reality, upward breakthroughs occur, and the current retest is held as support. Van de Poppe firmly believes in the bullish trend of the altcoin market.
