Bitcoin (BTC) and Ethereum (ETH) are the two big favorites in crypto land, but there are other cryptos that often offer much more profit, but also losses. When is actually a good time to invest in altcoins?
Michaël van de Poppe, a well-known Dutch crypto analyst, has an answer.
Is Now the Time to Buy Altcoins?
The analyst reports that historically, a pretty good time to buy altcoins is when Bitcoin is new all time high might. From this moment, a lot of confidence in the crypto market is returning and altcoins are catching up strongly. But is this really the best time? Van de Poppe doesn’t think so. According to him, the best time for Bitcoin is 8 to 10 months halving. Read here what exactly this halving means.
“The best timeframe (for buying altcoins) is 8-10 months before the bitcoin halving. This is the time when people generally have the least confidence that their positions will continue to perform well.”
Van de Poppe looks at the bitcoin pairs of altcoins. These pairs often appear to find a bottom during this period, although the value may fall further against the USD. He cites the example of the BTC/ETH trading pair:
“ETH/BTC hit the bottom of the cycle in September 2019. This happened in October 2015. Both times were exactly 252 days before the halving.”
The history of cryptocurrencies repeats itself
According to van de Poppe, now could be the best time to start investing in altcoins again. The halving will occur around April 2024.
“It certainly doesn’t feel like altcoins are very strong right now. But history often repeats itself. It repeats itself despite several variables in the market.”
However, please note that investing in cryptocurrencies is always risky and this does not constitute financial advice. Van de Poppe also notes that there is much talk of a possible impending recession. Could that throw a spanner in the works? He can recall several times when a recession was expected but didn’t materialize. Seeing is believing, says van de Poppe. He concludes with one final piece of advice:
“Be patient if you already have altcoin pockets. Buy altcoins if you haven’t already and wait the next two years.”
when to do #altcoins become a better asset to buy than #Bitcoin?
This usually happens when no one expects it. Historically, it’s often the best time to buy #altcoins lies after the Bitcoin ATH.
That would mean that there is such a large… pic.twitter.com/oyCOSYx9Mg
— Michael van de Poppe (@CryptoMichNL) August 19, 2023
