Solana

Bitcoin

Chainlink

<p><strong>A top crypto analyst Michaël van de Poppe with over 670,000 followers on Twitter <a href="https://x.com/CryptoMichNL/status/1714712422022271206?s=20" target="_blank" rel="noopener noreferrer nofollow">provided </a>an optimistic outlook on altcoins in a series of tweets today. Though the bear market has been painful for altcoin holders, he believes the end is near and recovery is ahead.</strong></p>
<p><em>“Altcoins are in the last part of the bear cycle. Yes, it feels relatively painful. The sentiment is completely gone, no interest in crypto,”</em> the analyst stated.</p>
<p>He noted that Bitcoin has been the only major cryptocurrency seeing significant price movement lately. However, he believes altcoins like Chainlink and Solana have already started trending upwards in Bitcoin value.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="556" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-1024x556.png" alt="" class="wp-image-358786" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-1024x556.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-300x163.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-766x416.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-1536x834.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-2048x1112.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-276x150.png 276w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-100x54.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-645x350.png 645w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-460-788x427.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>The analyst reminded that this has been the longest-lasting bear market for altcoins, with the peak occurring in August 2020 for cryptos like Chainlink and May 2021 for most others.</p>
<p><em>“That’s approximately 29 months. And yet, we’re close towards a Bitcoin halving, but also a spot ETF on Bitcoin,” </em>he tweeted. “<em>Bitcoin is the first-runner, almost always. People buy altcoins when there’s confidence in the markets, but if you look at the bigger ones, like Chainlink, or Solana, or Injective.</em>“</p>
<p>Macroeconomic turbulence and institutional interest in Bitcoin as “digital gold” are other bullish factors he cited. The analyst believes history could repeat itself, with altcoins bottoming out a few months before the next Bitcoin halving, just like in 2015/2016.</p>
<p><em>“If you ask on the streets, people are not going to be saying that crypto is massive. That will happen in a year, or few years, time again. Right now, people assume that we’ll be going down with the markets massively again. Just like we’ve been seeing 2019. Technically, N=1,”</em> he reasoned.</p>
<p>The crypto analyst remains long-term bullish on altcoins and believes now is the time to allocate positions before mainstream recovery sentiment returns.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/altcoins-in-the-last-part-of-the-bear-cycle-says-top-crypto-analyst-updates-bitcoin-outlook/">Altcoins ‘In the Last Part of the Bear Cycle’ Says Top Crypto Analyst – Updates Bitcoin Outlook</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Altcoins ‘In the Last Part of the Bear Cycle’ Says Top Crypto Analyst – Updates Bitcoin Outlook

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