The Altcoin All-Star: Which Coin Will Make You Richest Before Bitcoin Halving? | CPT PPP Coverage
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The Altcoin All-Star: Which Coin Will Make You Richest Before Bitcoin Halving? appeared on www.benzinga.com by Murtuza Merchant.
Renowned crypto strategist Michaël van de Poppe recently shed light on the optimal times to invest in altcoins and the potential indicators that signal a market shift.
“When do altcoins become a better asset to buy than Bitcoin BTC/USD?” Van de Poppe asked.
While many believe the best time to buy altcoins is after Bitcoin reaches its all-time high (ATH), this might not necessarily be the most opportune moment, he explained.
The reason? A surge in market confidence post-Bitcoin’s ATH often leads investors to feel secure enough to venture into altcoins.
However, van de Poppe emphasized that the ideal period to invest in altcoins is eight to 10 months prior to the Bitcoin halving.
This is a phase characterized by so-called “Time Capitulation,” where confidence in sustained positive performance is at its lowest.
“Bitcoin pairs are a key leader for this. The USD value could still be falling down, according to a correction of Bitcoin, but it doesn’t have to fall as hard as Bitcoin does,” he said.
Drawing on historical data, van de Poppe highlighted that the Ethereum ETH/USD to Bitcoin (ETH/BTC) pair reached its cycle low in September 2019 and previously in October 2015.
Intriguingly, both these lows occurred precisely 252 days before Bitcoin’s halving events.
Following these lows, altcoins began their bullish ascent, with 2020 witnessing a decentralized finance (DeFi) boom led by tokens like LINK/USD
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Despite the current market sentiment, which is dominated by recession fears, van de Poppe remains optimistic.
“Most definitely it doesn’t feel like we’ll be having some strength on altcoins, but more often than not history repeats itself,” he remarked.
Drawing parallels with past market narratives, he believes that similar narratives will continue to propel markets forward.
“Sit tight if you hold bags. Buy altcoins if you haven’t and hold for 2 years, he says.
Bitcoin and Ether were trading flat on Monday at the time of writing, while other major tokens like Ripple XRP/USD, Dogecoin DOGE/USD and Shiba Inu SHIB/USD are trading down 3.4%, 2.0% and 3% respectively, according to data from CoinGecko.
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