When Will the Altcoin Season Start? Analyst Michaël Van de Poppe’s Prediction
The post When Will the Altcoin Season Start? Analyst Michaël Van de Poppe’s Prediction appeared first on Coinpedia Fintech News
Analysts are abuzz with speculation about the potential onset of altseason, fueled by a recent surge in total altcoin market capitalization. Leading this charge is Ethereum, which has seen a notable increase, with its price hovering around $3,891. Notably, crypto traders and analysts like Michaël van de Poppe have closely monitored altcoins following Ethereum’s impressive 27% gain over the past week.
According to TradingView data, the total market capitalization of altcoins currently stands at approximately $1.16 trillion, marking a 15% increase over the past two weeks. This surge is approaching resistance levels observed in mid-March when the market cap topped $1.2 trillion.
Michaël van de Poppe, in his YouTube video analysis, delves into the recent approval of the Ethereum ETF and its potential impact on altcoins in the current bull market.
Path to Altseason
Looking at historical patterns, alt seasons tend to follow a distinct liquidity flow pattern. It typically unfolds in several phases before it hits the market.
Bitcoin’s Run: During this phase, a thriving bull market propels Bitcoin’s growth, potentially leading to new all-time highs. Concurrently, Bitcoin dominance begins to wane, indicating a potential shift towards altcoins.
Ethereum’s Turn: As Bitcoin corrects, Ethereum often emerges as a frontrunner, showcasing impressive gains. Ethereum’s uptrend may coincide with a consolidation phase for Bitcoin.
Large-Cap Altcoins Shine: In this phase, investor attention and capital flow towards established altcoins, resulting in significant price appreciation.
Mid/Low-Cap Frenzy: The final stage witnesses explosive growth and heightened volatility in mid and low-cap altcoins with promising growth potential.
When Will We See Altcoin Season?
Van de Poppe’s analysis suggests that the recent approval of the Ethereum ETF could catalyze altseason, aligning with the historical pattern observed in the cryptocurrency market. As Ethereum gains momentum and investor confidence grows, it could lead to broader appreciation across the altcoin market.
He went deep in his analysis to reassess the importance of retail confidence, which typically returns when altcoins start to move, particularly when Ethereum shows strength. The approval of the Ethereum ETF is seen as a catalyst for potential altcoin season. However, due to the listing process, the full impact may not be immediate and could take months to materialize.
Clear Rules Can Build Momentum
Beyond market dynamics, regulatory developments have influenced sentiment positively. Bipartisan support for the Fit21 bill and Trump’s acceptance of crypto donations have contributed to a favorable market outlook. Moreover, the potential classification of Ethereum as a commodity represents another positive regulatory shift.
Future Outlook
The altseason may undergo a consolidation phase before gaining full momentum. After ETH ETF, several other altcoins are in line to try their luck, including XRP, Litecoin, Solana, and many more. The market seems bullish in embracing ETFs like never before.
Are you excited?
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