Is Now the Time to Buy Altcoins? Experts Reveal Bull Run Timeline Based on This Key Indicator
In the crypto space, questions about when to expect altcoins’ rally have been making rounds, particularly now that prospective investors are probing the crypto market in search of coins with massive expansion potential.
Aside from investigating the best crypto project to delve into, investors are also concerned about the timing of their investment, as no trader would want to hop into cryptocurrency investments that have exceeded their growth potential.
Bull Cycle Routine And Altcoins’ Rally
For context, the crypto market rally has always followed a routine involving four sequential phases. The first stage always favors Bitcoin’s (BTC) impressive price appreciation, during which Ethereum (ETH) might begin experiencing capital inflows that will never be sufficient to outperform BTC.
The second phase announces its presence, with Ethereum outpacing Bitcoin in price and market indices, after which the funds trickle into altcoins with large market caps, ushering in the third phase of the bull market cycle. The market cycle eventually peaks with meme coins and other crypto assets with smaller market capitalization, outperforming Bitcoin and Ethereum in price actions.
Related: Best Altcoin Exchanges 2024
Expert Prediction Depicts Now Could The Best Time To Buy Altcoins
Amid the excitement, confusion, and uncertainty hovering around altcoins’ rally and the best time to buy altcoins, a reputable market expert and crypto enthusiast, Michael Van de Poppe, seems to have precisely predicted when to anticipate the altcoins bull season.
Taking to X, the crypto market expert hinted at altcoins’ rally timeline, citing a condition for the bull run to manifest. According to him, while Bitcoin might have transiently tested the $70,000 price mark after breaking above the $69,300 constraint, breaking above the $70,000 price mark and converting it to a support level remains a significant price action that will elicit market rallies across several altcoins.
The market analyst gave the above instance as the only condition with the potential to orchestrate the highly anticipated altcoins’ rally, invariably implying that prospective traders with interests in altcoins’ investment still have time to purchase the token before it swings into a parabolic ride.
Meanwhile, according to the price chart attached to the market analyst post, BTC has converted constraints at $60,748 and $67,789 into potent support levels, with the $70,059 posing as the only resistance hindering the coin’s price ascent.
The crucial level at $70K needs to break. #Bitcoin had a test there yesterday, but couldn’t get through it.
Once it will, that’s when a new all-time high test and run of #Altcoins is going to happen. pic.twitter.com/8g39krvypq
— Michaël van de Poppe (@CryptoMichNL) June 4, 2024
Market Outlook Supports Experts’ Claims And Bull Cycle Routine
According to Bitcoin’s market readings on renowned crypto assets price tracker platform Coincodex, Bitcoin is changing hands at about $ 69,328, reflecting a 0.42% decline in the past 24 hours. The pioneer crypto asset ranks first in market capitalization worth and trading volume, estimated at $ 1.37 trillion and $ 108.45B, respectively.
The Bollinger bands are contracting the #Bitcoin price into an apex.
The next leg higher for #Btc and for #Altcoins is imminent. pic.twitter.com/ubfYPI7nX8
— STEPH IS CRYPTO (@Steph_iscrypto) June 4, 2024
Going further, BTC’s risk assessment data revealed that the world’s most sought-after token has appreciated by about 159% in the previous year; it has outperformed 63% of the top 100 performing cryptocurrencies, including Ethereum, it is trading above its 200-day Simple Moving Average (SMA), and has high liquidity based on its market cap.
The next leg higher will send $Icp to the $50 range.#Altcoinseason is imminent. pic.twitter.com/7nKIVO5Epo
— STEPH IS CRYPTO (@Steph_iscrypto) June 4, 2024
Relating the above indices to the bull cycle routine described earlier in this insight, we could deduce that the crypto market might still be in its first bull phase run. On the other hand, it corroborated experts’s claims, which support altcoins’ investment now, with sound rewards potential.
History does not usually repeat, but it often rhymes.
It’s time for #Altcoins to have some fun. pic.twitter.com/Qkud6p2mDb
— Jelle (@CryptoJelleNL) June 4, 2024
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Chinedu Agbakwusi
Chinedu Agbakwusi is a news writer and editor for Crypto2Community. He is a crypto enthusiast with vast experience across several crypto-related projects and platforms. Chinedu has been following the development of the crypto market for several years, and he is optimistic about its potential to democratise the global financial system. He hopes to be a reliable plug for reporting trends and breaking down complex concepts to his readers. Agbakwusi's previously written for several crypto news including Times Tabloid, UPay, while also contributing over the years to many others leading media publications.
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