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- Altcoins, including Solana, XRP, and ADA, recorded impressive gains as the market enjoys a sustained bullish trend.
- Prominent analyst Michaël van de Poppe encouraged investors to exploit current buying opportunities.
- He also projected the end of the bear market cycle, with expectations of substantial growth in the altcoin market.
The crypto market is gradually entering the much-anticipated bullish market with sustained green days since last week. Digital assets aside from Bitcoin have made significant gains. For instance, Solana (SOL) achieved a surprising 31% growth in the last seven days, alongside XRP and Cardano (ADA).
Amid the bullish rallies rocking the market, led by Bitcoin, experts in the crypto community have argued that the altcoin market is primed for more substantial performance after a prolonged stay in the bear market. In a recent tweet, prominent crypto analyst Michaël van de Poppe proclaimed that altcoins are experiencing significant breakouts.
The crypto analyst believes the current gains accrued to some tokens could be insignificant compared to what is incoming. In particular, the analyst considers the current values of altcoins a dip that provides a favorable entry point for investment. Therefore, he encouraged investors to take advantage of the buying opportunities, stressing that the overall market sentiment has shifted.
In his words: “Altcoins are breaking out significantly, and I think majors are going to follow suit. Time to load on the dips; it’s a different sentiment.”
#Altcoins are breaking out significantly and I think majors are going to follow suit. Time to load on the dips, it's a different sentiment. Hiking policy is coming to an end -> end of bear market in 2018. End of bear market as we speak. Enjoy the ride!— Michaël van de Poppe (@CryptoMichNL) November 1, 2023
Furthermore, the analyst contended that the era of U.S. tightening monetary policy appears to be coming to a close, drawing a parallel with the end of the bear market in 2018. In sum, Van de Poppe asserted that the current bear market cycle is concluding.
Meanwhile, Van de Poppe is not the only renowned analyst who has foreseen the altcoin breakout. Previously, a Bitcoin analyst dubbed Pentoshi projected that the altcoin market was geared toward a $455.86 billion valuation from the current point of around $390 billion. The foundation of his view is the longstanding resistance that has suppressed altcoin’s market to the previous levels observed in the 2017/2018 cycle.
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