In a recent analysis, cryptocurrency analyst Michaël van de Poppe shared his insights into the current state of the cryptocurrency market, stating that Bitcoin has ended its accumulation phase and is now about to enter the first part of the bull cycle.
Van de Poppe classified the cryptocurrency market into distinct cycles, each lasting four years and characterized by different phases. The four main phases are as follows:
1. Bear Market (Red): This phase ran from November 2021 to November 2022 and marked a period of declining Bitcoin prices and pessimism in the cryptocurrency space.
2. Year of Accumulation (Green): After the bear market, the cryptocurrency market has entered an accumulation phase, which continues until the current month. This phase is generally associated with price stabilization and the gradual recovery of investor confidence.
3. Bullish Phase 1 (Purple): Van de Poppe anticipates that the current year will mark the beginning of the first part of the bullish cycle, in which the price of Bitcoin is expected to rise gradually but may not reach new highs during this stage. Historically, this phase occurs in the second year of the bull market.
4. Bullish Phase 2 (Mania Period) (Green): This final phase usually witnesses a significant increase in the prices of both Bitcoin and altcoins.
Bitcoin e altcoins
Van de Poppe’s analysis is not limited to Bitcoin. He also highlighted the promising outlook for altcoins, which have already shown signs of recovering from the bear market.
He suggested that as long as Bitcoin does not experience a vertical price increase, altcoins will likely gain significant traction, which could result in gains of 5 to 10 times their current value.
The analyst drew parallels with the previous market cycle, when Chainlink reached new highs against Bitcoin during the “DeFi Summer”. He predicts that next spring and summer, cryptocurrency markets will be ready for a rebound, with altcoins gaining momentum.
Van de Poppe finally emphasized the importance of strategic investment during purple bull phase 1. As Bitcoin begins to lose market dominance, altcoins begin to prosper, and this trend is expected to accelerate during phase 2 of the bull market. cycle.