The leading cryptocurrency, Bitcoin as well as many Altcoins are likely to see significant growth once the bullishness begins. In line with this, this crypto analyst has suggested the best time to buy these altcoins in preparation for this event.
When is the Best Time to Invest in Altcoins?
According to Michael van de Poppe, CEO and founder of trading platform MN Trading, the best time to invest in altcoins is “6-10 months before the Bitcoin halving,” which occurs around this period. The Bitcoin halving is scheduled to happen sometime in April next year.
Pope said on his “
#Altcoins Breaking left and right. The bull market is here.
It is important for altcoins to start moving in this period, as we are in the worst period of the cycle.
That means the best time for investment. But why is it so? Altcoins are moving in a big way.
Let’s see. … pic.twitter.com/Zu1GL5nt61
– Michael van de Poppe (@CryptoMichNL) 15 September 2023
He mentioned that the most plausible reason for the move would be that VCs are investing in those assets. However, this is not the case, as traders will quickly realize that a bull market is on the way when even the “big coins” start experiencing an uptrend.
He cited the example of Chainlink (LINK), which has failed to provide investors with little or no return on investment (ROI) as it has been consolidating during this period. However, he pointed to a bullish indicator that would suggest LINK is one of the altcoins that is set to experience a “bullish event” soon.
It’s worth mentioning that Pope’s views may be promotional or biased, however, he was quick to include an affiliate link where he apparently invests his altcoins. They tagged this platform as “the easiest broker to use in the Netherlands”.
Bitcoin (BTC) is currently trading at $26.544. Chart: tradingview.com
Bitcoin halving is one of the positives
As the bear market persists, crypto analysts have pointed to the Bitcoin halving as one of the events that could trigger the next bull market, which would significantly increase crypto market valuations. This event occurs every four years, and is when the rewards to miners on the Bitcoin blockchain are ‘halved’ as a deflation measure.
Interestingly, Kevin Kelly, co-founder of Delphi Digital, previously noted that the previous two halvings occurred seven months before Bitcoin reached a new all-time high (ATH). The price of Bitcoin has increased significantly before and after the three halving events that have occurred so far. In the most recent event, which occurred in 2020, BTC rose 17% in the weeks before the halving and 559% over the following year.
As such, analysts’ predictions of the halving event leading to significant growth in the crypto market do not seem far-fetched, as the crypto market is known to follow historical trends.
featured image from stash
Source: bitcoinist.com
