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Many Altcoins are tipped to rise significantly alongside the flagship cryptocurrency, Bitcoin, once the bull run begins. In line with this, this crypto analyst has stated the best time to buy these altcoins in preparation for this occurrence.
When’s The Best Time To Invest In Altcoins?
According to the CEO and Founder of trading platform MN Trading, Michaël van de Poppe, the best time to invest in altcoins is “6-10 months prior to the Bitcoin Halving,” which happens to be around this period. The Bitcoin Halving is slated to happen sometime in April next year.
Poppe stated on his X (formerly Twitter) platform that this period is the worst of the crypto market cycle but also represents the “best period to invest” as altcoins are “moving massively.”
The #Altcoins are breaking out left and right. The bull market is here.
It’s crucial for altcoins to start moving in this period, as we’re in the worst period of the cycle.
That means, the best period to invest. But why is that? Altcoins are moving massively.
Let’s see. 👇… pic.twitter.com/Zu1GL5nt61
— Michaël van de Poppe (@CryptoMichNL) September 15, 2023
He mentioned that the most plausible reason for this move would be because VCs are investing in those assets. However, that is not the case, as traders will quickly realize that the bull market is around the corner once the “big coins” begin to experience an upward trend, too.
He gave an example of Chainlink (LINK), which has failed to provide investors with little or no return on investment (ROI) as it continues to consolidate during this period. He, however, pointed out a bullish indicator that will suggest that LINK is one of the altcoins that is set to experience a “bullish occurrence” soon enough.
It is worth mentioning that Poppe’s views may be promotional or biased, though, as he was quick to include an affiliate link to where he apparently invests his altcoins. He tagged this platform as the “easiest to use broker in the Netherlands.”
Bitcoin (BTC) is currently trading at $26.544. Chart: TradingView.com
Bitcoin Halving One Of The Positives
As the bear market continues to linger, crypto analysts have touted Bitcoin Halving as one of the events that could trigger the next bull market, which would see the crypto market’s valuation rise significantly. This event happens every four years, and it is when the rewards of miners on the Bitcoin blockchain are ‘halved’ as a deflationary measure.
Interestingly, the co-founder of Delphi Digital, Kevin Kelly, had earlier noted that the last two halvings occurred seven months before Bitcoin broke to a new all-time high (ATH). Bitcoin’s price has increased significantly before and after the three Halving events that have taken place so far. In the most recent one, which took place in 2020, BTC rose 17% in the weeks leading up to the Halving and a further 559% in the following year.
As such, analysts’ prediction of the Halving event triggering a significant rise in the crypto market doesn’t seem far-fetched, as the crypto market is known to follow historic trends.
Featured image from Stash