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<ul> 
 <li>Founder of MN Trading shares his thoughts on the current crypto trading market.&nbsp;</li> 
 <li>He first walks us through the key ingredients to finding the right time to buy crypto.</li> 
 <li>He then concludes by saying now is a good time to accumulate with DCA.</li> 
</ul> 
<p>Seasoned crypto trader and Founder of <a href="https://mntrading.com/" target="_blank" rel="noreferrer noopener nofollow">MN Trading</a>, Michaël van de Poppe, shares his insight about altcoins. Specifically, he ponders over the frequent question in the crypto trading community at the moment, is this the right time to buy altcoins or isn’t it?</p> 
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   <p lang="en" dir="ltr">The right time to buy <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> might be now, or isn't it? <br><br>If you think about the previous cycle, you've seen altcoins running to a 10x, 100x, 200x or even more. <br><br>Most of them have been losing 90-99% of the valuation. Does that market come back or is it over? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>In… <a href="https://t.co/VL1eS9tiBG">pic.twitter.com/VL1eS9tiBG</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1696225095889400027?ref_src=twsrc%5Etfw">August 28, 2023</a>
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<p>He begins with a glance back at previous cycles which reveals altcoins skyrocketing by factors of 10x, 100x, or even 200x. Yet, a significant portion subsequently experienced staggering declines of 90-99%, raising questions about their future resurgence.</p> 
<p>This brings him to discussing <a href="https://cryptonewsland.com/xrp-surges-as-2023s-leading-altcoin-with-impressive-trading-volume/" target="_blank" rel="noreferrer noopener">factors that influence altcoin timing</a>. In particular, he says understanding the intricate dynamics of the altcoin market and deciphering optimal buying or selling windows hinges on a few key ingredients.</p> 
<h3 class="wp-block-heading" id="h-key-ingredients-to-deciphering-the-altcoin-market">Key Ingredients to Deciphering the Altcoin Market</h3> 
<p>Firstly, market sentiment. Often driven by social media chatter, it plays a pivotal role. Notably, social platforms indicate dwindling YouTube views, reduced Google searches, and lower overall engagement, reflecting a bear market psychology that persists among long-time survivors.</p> 
<p>Secondly, fundamentals. The health of projects is crucial. Fraudulent ventures have been eradicated, while legitimate ones continue to advance. Ethereum’s transition to Proof of Stake (PoS) and the forthcoming Ethereum ETFs exemplify this progress. Developments in DeFi and NFTs add to the narrative.</p> 
<p>Thirdly, price levels. Price action is vital, he says. Altcoins often gravitate around their cycle lows approximately <a href="https://cryptonewsland.com/10000-xrp-at-100-per-coin/">10</a> months before the Bitcoin halving. <a href="https://cryptonewsland.com/bitcoin-dominance-hits-2-year-high-as-altcoins-experience-steep-declines/">Bitcoin dominance</a> typically peaks at this juncture, signaling a potential shift in the market’s dynamics.</p> 
<p>Despite substantial advancements and progress in projects, prices may not reflect the narrative. Rally attempts are frequently met with selling pressure, with investors aiming to exit rather than considering a new bullish cycle.</p> 
<p>History often repeats itself. Prior to the Bitcoin halving in 2015 and 2019, the market experienced similar trends, marked by altcoins dwelling near cycle lows and Bitcoin dominance soaring. This pattern seems to be replicating in 2023.</p> 
<p><a href="https://cryptonewsland.com/eth-btc-collapse-signaling-the-end-of-altcoin-dominance/" target="_blank" rel="noreferrer noopener">Market Cap Others Dominance</a> exhibits a bullish divergence and bottom simultaneously, a potent signal. Ethereum’s performance against Bitcoin displays a unique characteristic in the current cycle, with a comparatively modest correction of 20-30%. This shift is attributed to Ethereum’s transition to PoS, fostering a deflationary ecosystem and contrasting with traditional inflationary models.</p> 
<p>In conclusion, he recommends accumulating positions through a consistent <a href="https://www.investopedia.com/terms/d/dollarcostaveraging.asp" target="_blank" rel="noreferrer noopener nofollow">Dollar-Cost Averaging (DCA)</a> approach, given the current market dynamics. Holding these positions for a two-year timeframe is likely, reflecting the belief that future market trends could align more favorably.</p> 
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4> 
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/weekly-crypto-market-news-round-up-october-second-week/">Weekly Crypto Market News Round Up</a></li>
 <li><a href="https://cryptonewsland.com/cardano-altcoin-opportunities-community-insights/">Surge in Cardano Altcoin Opportunities: A Call for Community Insights</a></li>
 <li><a href="https://cryptonewsland.com/altcoin-market-faces-40-50-drop-against-btc/">Altcoin Market Faces 40-50% Drop Against BTC, Liquidity Remains a Key Factor</a></li>
 <li><a href="https://cryptonewsland.com/eth-btc-collapse-signaling-the-end-of-altcoin-dominance/">ETH/BTC Collapse: Signaling the End of Altcoin Dominance?</a></li>
 <li><a href="https://cryptonewsland.com/bitcoins-historical-cycles-with-fibonacci-indicate-potential-surge-to-44k-48k-in-70-days/">Bitcoin’s Historical Cycles with Fibonacci Indicate Potential Surge to 44K-48K in 70 Days</a></li>
</ul> 
<p>The post <a rel="nofollow" href="https://cryptonewsland.com/seasoned-trader-explains-why-now-is-a-good-to-time-buy-altcoins/">Seasoned Trader Explains Why Now Is a Good to Time Buy Altcoins</a> appeared first on <a rel="nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Seasoned Trader Explains Why Now Is a Good to Time Buy Altcoins

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